VERY FEW TAXPAYERS COMPLYING TO ZRA'SREGULATIONS 

 

By Daily News Reporter

The Smart Invoice system launched by the Zambia Revenue Authority (ZRA) has shown significant uptake since its inception in March. According to ZRA Commissioner General Dingani Banda, over 12,000 taxpayers have registered on the system. This registration has facilitated the transmission of more than 100,000 invoices, amounting to a total value of 7.2 billion Kwacha.

From this invoiced amount, ZRA anticipates collecting over 400 million Kwacha in taxes. It's noteworthy that among the registered taxpayers, there are over 21,000 who are registered for Value Added Tax (VAT), out of which more than 8,000 are actively engaged in tax transactions.

During a media briefing, Mr. Banda emphasized that the deadline for mandatory registration on the Smart Invoice system remains July 1, with a grace period extending until September 30, 2024, before penalties are enforced. This timeline underscores the authority's commitment to integrating digital solutions to enhance tax compliance and streamline administrative processes.

Yvonne Mwanza, ZRA's Director of Data Analytics, highlighted the Smart Invoice system as a crucial tool in combating revenue leakages and enhancing overall service delivery in tax administration. This initiative reflects ZRA's proactive approach in leveraging technology to improve transparency, efficiency, and accountability within the tax system.

Overall, the Smart Invoice system represents a significant step forward for ZRA in modernizing tax administration, ensuring compliance, and optimizing revenue collection processes in Zambia.