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Alba Iulia
Tuesday, January 28, 2020

Ignore reports that ZRA wants to deduct your money through TPIN registration-Tax Inspector

Economy Ignore reports that ZRA wants to deduct your money through TPIN registration-Tax...

The Zambia Revenue Authority (ZRA) has called on bank account holders to ignore false reports that it intends to deduct money from their accounts once they register for the Taxpayer Identification Number (TPIN).

Speaking on Radio Musi O Tunya’s Atwaambe program, ZRA assistant Tax Inspector, Bertrand Sichimwi says anyone suspecting deductions as a result of the TPIN registration from their accounts will be reimbursed.

Mr. Sichimwi has further encouraged account holders to desist from hoarding money in their homes for fear of their money being taxed.

He says hoarding money was against the law, adding that it is also a security risk.

Mr. Sichimwi says government merely introduced the TPIN  to increase the tax base towards national development.

But the opposition United Party for National Development (UPND) has alleged that the introduction of Tax Payer Identification Number (TPIN) by the ZRA will make investing and the economy in Zambia difficult.

Speaking with radio Musiotunya News, Livingstone’s UPND chairman for politics, Lutangu Fwanyanga says the introduction of the TPIN is likely to  affect foreign investment.

He reiterated that the move will prompt foreign investors shift their money into offshore accounts owing  to the monitoring and charge per transaction system affected by government.

Mr. Fwanyanga has further alleged that the introduction of the TPIN will cause money hoarding, thereby causing economic constraints as commodity prices will increase.

Mr Fwanyanga has since urged the authority to think through the negative effects of the TPIN and its impact to Zambia’s already ‘struggling’ economy, stressing that the monitoring mechanism has not been properly understood by citizens.

TPIN is now a pre-requisite to all procedures of tax registration under Domestic Taxes and Customs Division and it is by law for every citizen with a bank account to have a TPIN.

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    • You can’t commit yourself to paying retirees when there is limited funds in treasury, can you?? Remember fiscal discipline and cutting down expenses?? You opposition lemons have no alternatives except criticise and criticise with no solutions.

    • If the TPIN is not meant to harm anyone, then why ask everyone to have it? Identification number for what, any identification number should serve a purpose.

    • Did you even go through the bill of rights, am sure you just voted yes for it because you was told to do so at dununa rally.

  1. Tax Payer Identification Number (TPIN) is used worldwide. Just check with our neighbors in Tanzania.

  2. Its better to educate people why you want the TIPN added to the accounts. Very soon us who don’t pay PAYE will ask our employers to be paying us cash. Its that simple.

  3. The UPND are generally insane.
    What is wrong with increasing the tax base?
    Let the UPND tell us how they will go about increasing the tax base.
    This is not a PF program.
    All govts that will come will relay on this system we are trying to put together.
    Lets all support this good measure by ZRA.

  4. I’m not UPND neither am I PF but the introduction of TPIN will bring about hoarding.. People will always find a way to escape and to say Tanzania is using the system doent qualify Zambia to do the same. Just because your Neighbour is a thief doesn’t qualify you to steal!

  5. Beyond reproach!!!!!!!!! Your tax man is saying there wont be any deductions yet you are saying you are broadening tax base? Either one between the two of you is wrong or telling lies. How do u broaden tax base if there wont be any charge? This is rather senseless! Perhaps what you need to tell us is what do we hope to get or achieve by me registering for TPIN and what loss will be occasioned if i do not? Broadening tax base is reaching out to tax those who were not taxed before. Simple as is.

  6. Can the spokesman cite the law than makes hoarding money illegal.
    australia does notvrequire you to have a tpin to open or have a bank account.
    Again i say, the IMF instructed Minister for finance to broaden the domestic tax base, tpin is start of that, remember mutati said even marketeers will have tax collected from them.
    If you put money in your account and cannot say where it came from you will be taxed

    • The Aussies do require a tfn if you dont give it you get taxed at the highest tax rate, but not on your principal just interest and dividends.
      There is no law in Zambia that states you must put your money in the bank.

  7. why going to the banks.if they want let them close mine.im not giving you anything….
    what did we do to the tax man???

  8. I think government should come in and try to explain more about this idea because it will just bring confusion in the country.
    Many people will stop banking there money instead they will start keeping at home . My advise to the government is educate people about this matter

  9. Will just be keeping my money in the house already I don’t see any point of keeping it in the bank with the revised charges from Barclays or fnb u just end mekn a lose with there charges…….!

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