Moses's Tax Consultant & Accounting Services

The new icare system being introduced by Napsa on 16th June is a game changer because it will eliminate most of the problem we have, one big example, it will eliminate the provision of remitting Moses's Contribution into Ndanji's Contribution because the two share the same NRC number. Those 20% partial withdraw will even become easy, it will also not allow contribution after the age of 55years until voluntary you want to continue untill the age of 60 years.

Progress is good

Economic benefits of new notes (K200 and K500)
1. Reduced Transaction costs
2. Increased Efficiency
3. Lower storage and Transportation costs
4. Easy to carry ( 10,000 ) just 20 notes
5. Simplified travel ( K5,000) just 10 notes
6. Reduced change ( But those public transport it will be chaos for change 😂 😂)

This is for you Ba Grade 2

Biggest Scam in Zambia
1. Religious
2. Democracy
3. Education System
The only way forward
1. Enhance Talent/Skill - Music/Dancing, Football , Netball, Basketball, Pool table, Chess player, Swimming, etc
2. Industrialization
3. Mindset Change ( DUMENSANI NDUBE and Susan Mulongoti) are doing a good job on this

"Debit" in simple explanation is simply a minus.
Example if Clinton has K5,000 in his Indo Zambia Bank Cheque Account and he pays for goods at a value of K1,000 using his Visa at a POS, Clinton's account will be substrated with a K1,000 and his balance is now K4,000.. his account is debited with a K1,000.

What a lovely good improvement by Our Pension Scheme

Feeling happy 😀

𝐃𝐄𝐁𝐓 𝐑𝐄𝐒𝐓𝐔𝐂𝐓𝐔𝐑𝐈𝐍𝐆 𝐄𝐗𝐏𝐋𝐀𝐈𝐍𝐄𝐃
Let's say you need a K100,000 to sort out a few things. So you go to Bayport to borrow against your salary of say, net, K3500 for 12 months. Bayport then advises- instead of paying K9,167 per month, you pay them interest of K833 for the next 12 months assuming you have invested the K100,000 properly. Then you can pay them back the full principle amount of K100,000 next year after you have made some revenue from your investment. However, due to recklessness, you use the 100,000 on unproductive ventures. Upon realizing the mistake, you go to ZANACO and borrow another K200,000 because according to you, from the net of K3500 you are only paying Bayport K833. ZANACO book your loan for three years with K2500 monthly repayments. This brings your monthly debt repayment to K3,333 against your pay of K3500. You realize you need to pay rentals, buy fuel and pay bills.

Upon realizing the mess you are in, you decide to engage Bayport and ZANACO because you have realized that by 2025 you still won't be able to pay the K100,000 nor manage the ZANACO loan. So you ask Bayport to suspend the K833 deduction for few months. You also request ZANACO to suspend their K2500 for a few months. Then they agree to your request on a condition that you use the 6 months grace period to order some salaula bells so that you use the profit from the salaula business to resume the total K3333 repayments and also settle the K100,000 to Bayport when it falls due in 2026 (new renegotiated deadline). So now you can afford to buy food, pay rentals and bills as well as generate some extra money to service your two nkongoles as and when they fall due. This is debt restructuring

Author Sikawala Musonda

This is the best Law that has been enacted and it will surely help a lot of SME's to easy there Liability burden..

Yes we can

The new Tax Bands,

Thanks to the government

Integrity is the seed for achievement. It is the principle that never fails

Integrity over intelligence

But it's good to strike a balance between the two.