ZRA sticks to Sept, 30, 2024 deadline
By Sharon Siame
The Zambia Revenue Authority -ZRA- says it will NOT extend today’s deadline for VAT registered taxpayers to migrate to the new Smart Invoice system.
Today, September 30 was the set deadline by ZRA for all VAT Registered tax payers.
ZRA Commissioner General DINGANI BANDA says Over 19,000 tax payers have registered on Smart Invoice with invoice value of K53.1 billion.
Mr. BANDA says the Authority noticed an increase for both VAT and Turnover Tax registrations in June 2024, which has been attributed to the July 1st, 2024 deadline.
He says that a sharp decline in registration was however noted thereafter and that it has been attributed to announcement of the grace period.
Mr. BANDA notes that the registrations however picked up in September 2024 due to the October, 1st commencement of imposition of penalties.
He said this during the post budget symposium in Lusaka today.
And the ZRA Commissioner General said there is need to expand the tax base in 2025 and to focus more on VAT.
Mr. BANDA said that ZRA is also working on developing an electronic carbon tracking to reduce smuggling of products such as alcohol and cigarettes.
He said the Commission wants to tighten regulations and ensure stiffer penalties on those found wanting.
