Reform to growth
Welcome to our 2022-23 national budget bulletin with the theme ‘Reform to Grow’. This bulletin reviews and analyses the budgetary allocation, measures and initiatives outlined by the Minister of Finance and Planning, the Honourable Dr Mwigulu Nchemba, in his Budget for the forthcoming fiscal year. Apart from an in-depth review of various proposed tax measures, we also examine the outlook for specific economic sectors and more generally consider the outlook for investment, job creation and sustainable growth.
We hope that you enjoy this bulletin and find it useful. If you have any questions, please do contact us.
A new 2% digital services tax on supplies from non-residents, as well as the imposition of VAT on such services.
The domestic manufacturing sector is a key enabler of aspirations of “enhancing productive sectors for improved livelihoods”, one of the themes in this year’s budget.
The budget anticipates continued growth in the mining sector.
Accelerating economic recovery" was one theme in this year’s budget.
More effective expense management by the Government was a key focus of this year’s Budget with a number of measures announced in this regard.