Bankers Association of Zambia (BAZ) says it is working closely with Zambia Revenue Authority (ZRA) to ensure compliance to acquiring the Tax Payers Identification Number (TPIN) before the set December 31st 2017 deadline.
BAZ Public relations and administrative officer Miriam Zimba says her association is working closely with its stakeholders to ensure the smooth implementation and compliance to the directive of having TPIN by all account holders by the deadline.
Ms. Zimba says BAZ has been sensitizing its member banks to stress the importance of having TPIN to both existing and would be clients.
“We have been working closely with our stakeholders by sensitizing banks to stress the importance of registering for a TPIN to both current and would be clients,” she said.
ZANIS business news reports that the BAZ Public relations and administrative officer in an interview today added that a project implementation team consisting of members from the Banks and ZRA had been constituted which she said will soon be in operation before the end of the year to ensure the smooth operation of the exercise.
“We have formed a project implementation team which is looking into alternative ways of how we can ease the whole process for compliance because it is now law that the banks comply and the account holders,” she said.
She urged members of the public to take advantage of the registration period given to register online through the ZRA website or at their offices country wide and have the TPIN included to their bank details.
“Members of the public should take advantage of this period given to register for a TPIN because we are not aware of any extension after the December 31st 2017 deadline.
Lusaka, September 19, 2017, ZANIS—
The established team will continue looking into ways of our clients to be able to register for TPIN through the banks but until then ZRA is the only one doing that,” she said.
The Zambia Revenue Authority has warned taxpayers in the country that it will freeze all bank accounts whose holders will have no Tax Payer Identification Number (TPIN) by 31st December, 2017.
Government recently, made it mandatory for financial institutions registered under the Banking and Financial Services Act to require all bank account holders to obtain a Taxpayer Identification Number from ZRA.