JCTR CONTINUES TO CALL ON THE NEXT GOVERNMENT TO BROADEN THE TAX BASE TO AVOID HIGH TAXES BEING EXPERIENCED THE 500, 000 FULLY EMPLOYED ZAMBIANS

the jesuit centre for theological reflection (jctr) says the next government should broaden the tax base to avoid high taxes being experienced the 500, 000 fully employed zambians..

according to the information obtained from jctr ,the 500, 000 fully employed formal sector workers are this year expected to pay over 3trillion kwacha in pay as you earn as compared with the mining sector which is expected to pay over 1.8trillion kwacha in form of taxes.

jctr  also says  companies in the country are expected to pay over 1.3trillion kwacha by the end of the year.

the organisation further  says while maximizing tax revenue is the primary concern, income inequality caused by the high tax burden on the few people in formal  employment   is of great concern.

jctr has since stated that the high income inequality in the country can be attributed to poor implementation of wealth taxes which do not only contribute to tax revenue but also help in bridging the gap between the rich and the poor.

jctr has observed that increasing the tax revenue from wealth transaction can increase  the tax base and allow  government to reduce the highly unequal burden on the formally employed, which is unfair and creates economic distortions.

it has further called for the development of an effective and efficient tax enforcement and compliance strategy  to have a good and stable structure that has heavy reliance on consumption taxes like domestic value added taxes and local exercise duties among others.

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ZAMBIAN PRESIDENT REITERATES HIS ASSURANCE TO THE INTERNATIONAL COMMUNITY THAT THE ELECTIONS WILL BE FREE AND FAIR

president rupiah banda has reiterated his assurances to the international community that the country will have free, fair and peaceful elections come 20^th september.
president banda has in this light reiterated his appeal to his opponents to accept the outcome of the elections and let peace prevail so that the country can continue on its road to economic prosperity.
the president was speaking in lusaka today when the brazilian ambassador and the ghanaian high commissioner presented their credentials to him at state house.
and president banda has called for the continued and enhanced close relations between brazil and zambia so that the ten agreements which were signed between the two countries in 2010 are realized.
he further said that there is need to encourage private investors from brazil to continue investing in the country stating that the investors from that country are welcome to zambia. and newly appointed brazilian ambassador to zambia ana maria pinto morales has called for action on the 10 suggested economic cooperation projects between the countries as one way to strengthen the countries relations which she says has been there since independence of zambia. meanwhile president banda has noted the great strides which ghana has made economically and stated that zambia has a lot to learn from that country.
speaking earlier newly appointed ghanaian high commissioner to zambia elizabeth afua benneh stated that in light of the current developments on the international scene such as wars, it is needless to say that political relations, however good, are not enough to ensure the survival of nations like zambia and ghana.
ms benneh says the debt challenges of developing countries and the serious inequalities in resource allocation and consumption in today’s world, enjoin countries like ghana and zambia to critically examine how best to improve their relations through mutual beneficial trade and other forms of economic cooperation.
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FNB UNDER FIRST RAND SOUTH AFRICA ACQUIRES 96% SHARE STAKE INTO FINANCE BANK ZAMBIA AT COST OF K27BILLION

first national bank zambia has acquired about 96percent of the total assets of finance bank zambia under the purchase and assumption transaction leaving the bank of zambia with 4percent at a total value of 27billion kwacha.

bank of zambia governor dr caleb fundanga disclosed this to journalists at a media briefing this afternoon in lusaka stating that all the minority shareholdings’ shares will be sorted out and determined by the courts of law.

dr fundanga further says the purchase and restructuring of the finance bank  zambia limited involves purchasing of certain  assets and assuming certain liabilities of finance bank zambia limited and operations of the 34 branches, 16agencies and 61atms currently serviced by finance bank.

the boz governor also  says the central bank engaged deloitte llp of london on the proposed restructuring adding that apart from fnb expressing interest, other institutions such as first alliance bank, exim bank of tanzania, i and m bank of kenya and quantel bank also expressed their interest to acquire the bank `s assets.

meanwhile dr fundanga has  stated that the acquisition will achieve certain objectives such as bringing sound business practices, financial stability and protecting  the zambian financial system.

speaking at the same briefing first national bank (fnb) chief executive officer sarel van zyl said his institution will maintain finance bank’s existing geographic footprint across the country, offer employment to all financé bank staff and inject significant foreign direct investment into zambia.

fnbz’s ultimate parent company is first rand limited of south africa and is listed on the johannesburg stock exchange with total assets of and equity amounting to $105.6billion and $8.8billion kwacha respectively.

the acquisition of finance bank by fnb zambia will mean that it will become the 5^th largest commercial bank in the country apart from other banks such as barclays and standard chartered.
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PF CHONGWE ASPIRANT CANDIDATE SYLVIA MASEBO VOWS THAT ONLY THE SOLI PEOPLE WILL REMOVE CHIEFTAINESS NKOMESHYA FROM THE CHIEFTAINSHIP SEAT

PATRIOTIC FRONT (PF) CHONGWE ASPIRANT CANDIDATE WHO IS ALSO FORMER MEMBER OF PARLIAMENT SYLVIA MASEBO HAS VOWED THAT ONLY THE SOLI PEOPLE WILL REMOVE CHIEFTAINESS NKOMESHYA FROM THE CHIEFTAINSHIP SEAT AND NOT THE RECOGNITION OF PRESIDENT BANDA.

MS MASEBO WHO WAS SPEAKING IN AN INTERVIEW WITH RADIO PHOENIX SAYS THE THREATS BY PRESIDENT BANDA DURING A RALLY IN CHONGWE TO DETHRONE CHIEFTAINESS NKOMESHYA FROM HER SEAT ONLY SHOWS HOW PRESIDENT BANDA IS CLOSED UP TO CONSTRUCTIVE CRITICISM FROM PEOPLE WHO HOLD DIVERGENT VIEWS IN DEVELOPMENT.

THE FORMER MMD CHONGWE MEMBER OF PARLIAMENT WHO DEFECTED TO THE OPPOSITION PF SAYS THE THREATS BY PRESIDENT BANDA ONLY SHOWS THAT HE DOES NOT UNDERSTAND HIS ROLE AS A PRESIDENT FOR ALL ZAMBIANS NO MATTER WHO THEY ARE AND WERE THEY COME FROM.

SHE SAYS ONLY THE TRADITIONAL CUSTOMS WILL REMOVE THE CHIEFTAINESS FROM HER SEAT AND NOT ANY POLITICAL LEADER WHO COMES INTO OFFICE BECAUSE THEY ARE NOT THE ONES WHO PUT HER THERE BUT THE PEOPLE IN HER AREA AND TRIBE.

MS MASEBO SAYS ZAMBIA IS HEADED FOR SERIOUS HARD TIMES IF ITS CITIZENS VOTE FOR PRESIDENT BAND BACK INTO OFFICE AND NOT VOTING FOR SOMEBODY ELSE LIKE MR. SATA WHO IS AN ACTION ORIENTED MAN.

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CHURCH IN THE COUNTRY CALLS ON POLITICAL PARTIES TO COUNT THE COST OF PLUNGING THE NATION INTO CHAOS

THE CHURCH IN THE COUNTRY HAS CALLED ON POLITICAL PARTIES TO COUNT THE COST OF PLUNGING THE NATION INTO CHAOS WITH THE VIEW OF THE CURRENT SITUATION OBTAINING ON THE GROUND OF PERPETUAL VIOLENCE.

BISHOP OF THE HOUR OF CHANGE MINISTRIES PETER PAKATI SAYS ZAMBIANS MUST LEARN TO EMBRACE UNITY AND NOT VIOLENCE.

BISHOP PAKATI STATED THAT ZAMBIA WILL BE PUNISHED FOR BEING DISOBEDIENT IF ITS CITIZENS PLUNGE THIS COUNTRY INTO CHAOS.

AND BISHOP PAKATI SAYS THE CHURCH MUST CONTINUE TO PLAY ITS CARDINAL ROLE OF UNITING THE NATION AND NOT PLAY THE ROLE OF BEING A DIVIDER.

HE SAYS IT HAS BEEN NOTED WITH CONCERN THAT CERTAIN CHURCH ELDERS HAVE COME OUT OPENLY TO DECLARE THEIR SUPPORT TO CERTAIN POLITICAL PARTIES FORGETTING THAT THE LEAD FLOCKS FROM DIFFERENT POLITICAL PARTIES.

AND APOSTLE CHRIS KUNDA FROM THE PRESENCE OF DOG MINISTRIES INTERNATIONAL NOTED THAT FOLLOWERS OF POLITICAL PARTIES ARE THE ONES ADVOCATING FOR VIOLENCE AND NOT THEIR LEADERS

APOSTLE KUNDA FURTHER REMINDED POLITICAL PARTIES TO PUT IT IN MIND THAT WE HAVE ONLY ONE ZAMBIA AND THE PEACE WHICH THE COUNTRY HAS ENJOYED CAN NOT BE SOLD FOR SINGLE PENNY.

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MAURITIUS COMPANY ENL PROPERTY TO CONSTRUCT A SHOPPING MORE IN LUSAKA AT A COST OF $80MILLION

ENL PROPERTY, A UNIT OF MAURITIAN COMPANY ENL LAND LIMITED, PLANS TO BUILD AN $80 MILLION SHOPPING MALL IN THE COUNTRY AS IT EXPANDS IN SUB-SAHARAN AFRICA.

ENL PROPERTY CHIEF EXECUTIVE OFFICER GILBERT ESPITALIER-NOEL HAS DISCLOSED THE DEVELOPMENT.

MR. NOEL SAYS THE 25,000 SQUARE-METER PROJECT WILL BE DEVELOPED IN LUSAKA, WITH SOUTH AFRICA’S ATTERBURY INVESTMENT HOLDINGS, ESPITALIER.

HE SAYS ENL PROPERTY’S CURRENT DEVELOPMENTS IS ABOUT $711.7 MILLION, INCLUDING RESIDENTIAL PROJECTS AND SHOPPING MALLS.

END.

MR. NOEL  HAS STATED THAT THE ZAMBIAN PROJECT IS A STEPPING STONE IN AFRICA AND PART OF THE COMPANY’S “LOGICAL EXPANSION” AS IT PROSPECTS OTHER SUB-SAHARAN COUNTRIES SUCH AS TANZANIA AND MOZAMBIQUE.

KENYAN ADVISES ZAMBIANS NOT PLUNGE THE COUNTRY INTO CHAOS

KENYAN HIGH COMMISSIONER aTO ZAMBIA DR KIPYEGO CHELUGET HAS ADVISED THE ZAMBIAN PEOPLE TO AVOID  PLUNGING  THE COUNTRY INTO CHAOS AS WAS THE CASE IN HIS  COUNTRY  WHERE MORE  THAN 1000 PEOPLE  LOST  THEIR LIVES  IN POST ELECTION VIOLENCE.

SPEAKING IN AN INTERVIEW WITH RADIO PHOENIX, DR CHELUGET SAYS POLITICIANS MUST ENSURE THAT THEY ACCEPT THE RESULTS AND OUTCOME OF THIS YEAR’S GENERAL ELECTIONS.

DR CHELUGET SAYS THE VARIOUS POLITICAL PARTIES MUST TEACH THEIR MEMBERS THAT IN THE  GAME OF POLITICS, THERE ARE WINNERS AND LOSERS.

ON SEPTEMBER 20, 2011, ZAMBIANS GO TO THE POLLS TO ELECT NEW LEADERS WHO WILL GOVERN THE COUNTRY  IN THE NEXT FIVE YEARS.

10 POLITICAL PARTIES ARE EXPECTED TO TAKE PART IN THIS YEAR’S GENERAL ELECTIONS AND ALL THE POLITICAL PARTIES HAVE SINCE INTENSIFIED THEIR CAMPAIGNS EVEN THOUGH STAKEHOLDERS HAVE OBSERVED THAT THEY ARE LACKING ISSUES TO TELL THE ZAMBIANS ON HOW THEY WILL DEVELOP THE COUNTRY
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