Budget preps commence

THE Ministry of Finance has commenced preparations for the 2021-2023 Medium Term Expenditure Framework (MTEF) and the 2021 National Budget, Secretary to the Treasury Fredson Yamba has said.

Mr Yamba said this was being done alongside the current process of revising the 2020 National Budget which has gravely been impacted by the effects of Covid-19 on the domestic and international economy.

He said in a statement that in order to ensure broad-based consultations, the general public, companies and non-state actors should make proposals on tax and non-tax policies for possible inclusion in the 2021 National Budget. “This earnest appeal to the public to embrace this gesture is in the spirit of ensuring that consultations on the 2021 National Budget are broadened in line with the Government’s Policy of streamlining taxation, and creating an enabling environment for business; employment creation; wealth generation; and, a sustainable future for all,” he said.

Mr Yamba said all submissions would be considered objectively

and on merit.

He said the inter-ministerial Tax Policy Review Committee will, where necessary, invite those who will submit proposals for further discussions or clarifications on any issue in their submissions as a way of enhancing the consultative process.

Mr Yamba also confirmed that the Tax Policy Review Committee would undertake country-wide engagements in all the provinces to ensure that as many stakeholders as possible were involved in this open and transparent process of developing the 2021 National Budget. He said a considerable consultation period ending on July 31, 2020 had been set to ensure that all citizens, including the youth, women groups, the private sector, and all other stakeholders and interest groups participate in the formulation of the 2021 Budget.

Mr Yamba said the key reference documents in the consultation process were the Seventh National Development Plan and the 2021 Budget.

“Outline the pitfalls of the current tax and non-tax policy regime and explain how local businesses and other development affairs are negatively impacted as a result; Clearly state the sector or policy area of interest for which remedies or stimuli are sought and whether such remedies or stimuli relate to policy, strategy, programme, tax, or non-tax measures; and,