Recent fiscal data from the Zambia Revenue Authority (ZRA) reveals a significant contraction in revenue collection, specifically a K976.8 million decline in import VAT. This downturn follows the government’s decision to suspend taxes on imported petroleum products, a move necessitated by the escalating conflict between the United States and Iran. Economic analyst Trevor Hambayi suggests that the current three-month suspension period, enacted via Statutory Instrument (SI), may provide a temporary buffer against global price volatility. However, he warns that the sustainability of this relief is tethered to the duration of the overseas conflict. Speaking with the Zambian Business Times (ZBT),...
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