THE Zambia Association of Manufacturers (ZAM) has urged government to reduce standard VAT rate from 16 to 14 percent and Company Income Tax rate for the sector from 30 to 15 percent in the 2024 budget. And Pharmanova Zambia Limited has called on government to exempt import VAT for pharmaceutical manufacturing companies when importing raw materials for medicine. Speaking last week at a pre-budget meeting for the manufacturing sector, ZAM president Ashu Sagar also proposed an amendment to the levying of the 3 percent excise duty on self-generated electricity in companies. “Proposed budget measures in 2024 – general tax measures: reduce the Company Income Tax (CIT) rate for the manufacturing sector from 30 to 15 percent. Reduce the standard VAT...