The PF regime will very soon start charging and deducting tax from Zambians for merely holding a bank account.
The government has already ordered commercial banks to compel all its bank account holders to register for tax. Once all bank account holders have obtained tax identification numbers, the banks will be deducting tax directly.
FNB has sent this message to all clients:
‘In line with the 2017 tax reforms, ALL bank account holders must have a Taxpayer Identification Number (TPIN). Details, call 362 or ZRA on 0211 381111,’
This means that if you have an account for receiving school fees, you must add more money for the tax man.