Weekly Recap 3rd Edition
ZCAS Economics & Business Association (ZCASEBA)
Empowering Tomorrow's Leaders: Nurturing Excellence in Economics and Business
1. PAYE (Pay As You Earn) tax bands have been revised.
Here's a breakdown:
Exempt threshold: increased to K5,100 per month from K4,800 previously. This means any income below K5,100 is not taxed?
Taxable income bands and rates:
? K5,101 to K7,100: 20%?
? K7,101 to K9,200: 30%?
? Above K9,200: 37%?
Top tax rate reduction: The top tax rate has been reduced from 37.5% to 37%.
2. Access Bank acquires Atlas Mara;
Access Bank Zambia has become one of Zambia's top 5 banks by revenue after obtaining all requisite regulatory approvals for the acquisition of Atlas Mara Zambia.
3. OMCAZ attributes rising fuel prices to pricing model being used;
The Oil Marketing Companies Association of Zambia says the current monthly pricing cycle has contributed to the rise in local fuel pump prices, further urging the government to expedite stakeholder engagement in reviewing the pricing model.
4. The Zambian exchange rates as of today stand as;
1 USD= 26.09
1 ZAR = 1.43
1 EUR = 28.60
1 GBP = 33.25
source:?
ZCASEBA PUBLICATIONS COMMITTEE
Written by David Sikapizye
Edited by 瑞赛德 & Lushomo Mulunda