Cabinet approves repeal of Mobile Money Transaction Levy Act

By Masauso Mkwayaya

Cabinet has approved the repealing of the Mobile Money Transaction Levy Act of 2023 to place the administration of the Act under the Zambia Revenue Authority and ensure efficient collection of the levy.

Currently, the Mobile Money Transaction Levy Act is being administered by the Bank of Zambia and needs to be repealed in Parliament under the “The Mobile Money Transaction Levy Bill.

This was during the 20th Cabinet Meeting held at State House chaired by President HAKAINDE HICHILEMA.

In a statement to ZNBC News, Chief Government Spokesperson CORNELIUS MWEETWA says Cabinet has also approved the amendment of the “The Income Tax Act to, among others, to permit the deduction of the skills development levy as
a tax-deductible expense.

Mr. MWEETWA also says Cabinet has also approved the amendment of the Customs and Excise Act to, revise the rates of customs and excise duty payable on certain goods.

He says this is to ensure smooth implementation of the 2025 National Budget, and also policy issues aimed at facilitating socio-economic development for the people.

Mr MWEETWA says Cabinet further approved, the Revised State-Owned Enterprise -SOE- Policy and its Implementation Plan, to strengthen the governance and legal framework for the improved performance and contribution of SOEs to the nation’s development agenda

In addition, Cabinet approved the ratification of the SADC Treaty on the creation of a Regional Development Fund to support infrastructure development, industrialisation and enhanced regional integration.

Furthermore, Cabinet has approved Zambia hosting of the twelfth Ministerial meeting of the committee of Ten Heads of State and Government of the African Union on the reform of the UN security Council to be held next year in January.