The Zambia Revenue Authority has warned that it will freeze all bank accounts whose holders have not obtained their Tax Payer Identification Number (TPIN) by 31st December, 2017.
The TPIN is a pre-requisite to all procedures of tax registration under Domestic Taxes and Customs Divisions.
ZRA Corporate Affairs Manager Topsy Sikalinda said it is a requirement by law for every citizen with a bank account to have a TPIN which should be submitted to that same bank for inclusion to their details.
He said in an interview that those with TPIN will not be taxed from their bank accounts but that the PIN is only an identification initiative by ZRA for all tax compliant individuals.
Mr Sikalinda explained that all the money deposited into individual bank accounts is already taxed and therefore, the acquisition of a TPIN would not lead to double taxation.