The Zambia Revenue Authority (ZRA) is expected to send tax audit teams to all media organizations to establish tax compliance.
In an attempt to dispel assertions that it is targeting Prime television, following the circulation of a letter by Prime Television, ZRA said that it had in fact written to all media organizations.
Some media organizations have since had meetings with the Ministry of Information and Broadcasting Services, Permanent Secretary, Amos Malupenga to ensure that the process was done after the COVID-19 crisis.
The letters were sent to ZNBC, Times of Zambia, Daily Mail, and other private media organizations dated 20th March 2020 stating that the tax audit team’s areas of interest will include establishing the companies’ tax compliance to; Value Added Tax(VAT), Income Tax, Pay As You Earn(PAYE), With-holding Tax and Property Transfer Taxes.
The tax audit teams will examine the periods between 1st January 2015 to 31st December 2019.
Management of the media houses has been advised to make available various documents including Trial balance for the financial periods, detailed payroll information, import purchase orders, payment vouchers for imports and local purchases, Goods Delivery Notes, Stock Management Sheets, and schedules of all assets bought during the period.
ZRA has also requested companies to give the tax audit teams access to documents, electronic systems and those it may request.
ZRA has also notified Management of media houses that due to the COVID-19 pandemic, the teams will physically visit the premises later, and the companies should prepare for the tax audit work and provide details of persons the appointed audit teams will work with including tax agents if any.
Below is Sample letter