The motion to endorse the Fiscal Incentives 2016 as Money Bill in the National Assembly was withheld yesterday.
This was because members suggested that prior to endorsement, they must be thorough on how the incentives will be helpful for country’s economic growth. The house will approve the fiscal incentives in coming days.
Fiscal Incentives 2016 include tax holiday, reinvestment allowance, income exemption, tax deduction at source, and exemption in the form of tax discounts among others.
The National Assembly endorsed the overall budget of nearly Nu 60 bn for the Financial Year 2017-18. Pay revision for Local Government was also passed.
