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Thursday, May 28, 2020

ZRA pleased with new VAT measures

Economy ZRA pleased with new VAT measures

ZRA Commissioner General Kingsley Chanda
ZRA Commissioner General Kingsley Chanda

The Zambia Revenue Authority is pleased with the new VAT measures proposed in the 2020 budget by the Minister of Finance Dr. Bwalya Ng’andu.

ZRA Commissioner General Kingsley Chanda said the decision by Government to maintain the Value Added Tax will be implemented by the Authority with renewed vigor and initiatives based on smart technologies.

Mr Chanda said to ensure the effective implementation of VAT, the ZRA will immediately undertake to address the compliance and administrative challenges especially falsified refund claims, double claims and transfer pricing through over invoicing.

He said as the body charged with the responsibility of administering tax policy on behalf of Government, the Authority fully supports all government policies including the maintenance of VAT.

Mr Chanda said to this end, the Authority will upgrading the Tax Online system for domestic taxes and interface it with customs system to ensure that all claims of refund for import VAT paid to Customs Services during importation of goods are validated through systems based controls against data in the customs system;.

He said the Authority will also undertake measures to ensure the mandatory use of Electronic Fiscal Devices for VAT and other tax types and facilitate accreditation of additional EFD distributors and Virtual EFD software suppliers and vendors.

Mr Chanda added that making it mandatory to capture and electronically transmit to ZRA the Taxpayer Identification Number and the Names of both the buyer and seller of goods and services in all Business to Business and Business to Government transactions has already been implemented across businesses that include chain stores and other VAT registered suppliers.

He said two new units have already been set up to enhance data analytics and bulk data matching with third party institutions and to enhance enforcement and compliance activities, Implementation of stiffer penalties for evasion including prosecution and ensure timely audits of VAT claims, including outsourcing services of external forensic auditors whenever necessary.

Mr Chanda said the Authority believes that the comprehensive tax review of the tax system which the Government intends to undertake as pronounced in the 2020 Budget will promote investment and broaden the tax base through increased economic activities.

He said in a statement that the Authority shall continue to take actions to ensure that Zambia’s tax regime is transparent, professionally managed and sustainable.

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  1. @PM; Exactly my point. He opted to be personal towards Prof. Saasa rather than apply intelligence and wisdom. He has now swallowed his humble pie.

  2. Some things are plain simple. you don’t need rocket science to know some trucks which come in Zambia go back after claiming vat all in the name of purchases. then be stiff on proportional sales to purchases ratios. Every one does business for profit. no one should continuously be claiming purchases against less sales. that business should be deemed not profitable and maybe be down graded to turn over tax which doesn’t care weather you have bought what. this will make people declare some tax even if they cook no one will be claiming from the govt. simple. no need to go to Harvard

  3. Is this not the same man who was strongly supporting sales tax? In progressive countries he should have resigned by now. We have unprincipled people in these high positions. No wonder we don’t move forward as a nation

  4. Quick at collecting taxes but nothing to show for it. What a shame pf. I blame sata for this as his party was clearly full of chancers and corrupt maggots

  5. “Mr Chanda said to ensure the effective implementation of VAT, the ZRA will immediately undertake to address the compliance and administrative challenges especially falsified refund claims, double claims and transfer pricing through over invoicing.”

    No mention of VAT refunds or even speeding up VAT refunds, this fyulish Chanda seems to think that tax is to be paid regardless of what harm it can do to deserving tax payers. If this fyul had his way he could tax your salaries up to 95% and leave you with only 5% of what you worked for. Just to please his masters, you how much they love money these PF chaps.

  6. Isn’t this the fyu.l who insulted Professor Saasa over VAT? Have they threatened him for disrespecting Hon Ng’andu through his remarks?
    He is on his way out, if I know PF well, which I do because of their greed and their love for money whether clean or dirty money, to them it’s one colour.

  7. Winds definitely shift very fast in the mouths of these PF officials. Was he not the one with the loudest voice about ousting VAT and bringing in Sales tax in the mwanakatwe period.

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