Zambia Publishes its First Tax Expenditure Report

MoF Zambia, Lusaka | Published on 31 December 2024

The Ministry of Finance and National Planning of the Republic of Zambia has published its first ever Tax Expenditure Report, for the fiscal year 2023.

This is a significant step toward improving transparency and accountability in managing public resources. The report presents TEs by tax type, by sector, and policy objective. Sharing this information publicly helps ensure that these tax reliefs are well-targeted and remain carefully aligned with Zambia’s long-term goal of inclusive growth and sustainable and transparent fiscal policies.

“Granting tax expenditures may initially result in reduced Government revenue collections in the short-run, however, we have no doubt that the relief eventually contributes to the raising of more tax collections due to the economic growth that it stimulates. A strong economy anchored on increased investment flows increases the revenue base and the Government’s capacity to finance infrastructure and public services.”

The report is available on the official website of Zambia’s Ministry of Finance and National Planning.