Zambia Revenue Authority (ZRA) has collected over K27.7 billion in gross taxes, with refunds amounting to K4.5 billion.
ZRA Commissioner General, Kingsley Chanda, disclosed this when he officiated at a ZRA Media Breakfast briefing in Lusaka today.
ZANIS reports that Mr. Chanda stated that the authority has a net collection of K23.2 billion which is 6.4 percent above their target of K21.8 billion.
Mr. Chanda said the authority paid out K 4.2 billion in VAT refunds.
He said that out of this amount, 60 percent was paid to the mining sector while 40 percent was paid to other sectors of the economy.
The Commissioner General revealed that during the same period, K193.21 million was offset against approved and established refund liabilities.
He attributed the performance to the strong outturn of domestic and import VAT during the period under review owing to the successful implementation of key administrative and policy measures.
Mr. Chanda disclosed that government has foregone the total K2.4 billion on account of various trade concessions.
Meanwhile, the Commissioner General revealed that the authority has extended the deadline for Tax Payer Identification Number (TPIN) registration for existing bank account holders from June 30th 2018 to December 31st 2018.
Mr. Chanda said the deadline only applies to persons who already had bank accounts at the time the law was amended.
And ZRA Mr. Chanda said government has restricted timber exports to finished and processed products.
He announced that only the Zambia Forestry and Forest Industries Cooperation (ZAFFICO) is allowed to export Mukula.
Mr. Chanda explained that other entities wishing to export Mukula may do so through ZAFFICO by obtaining requisite legal documentation.