Wednesday, July 24, 2024

ZRA rakes in K2.6 billion through tax amnesty

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The Zambia Revenue Authority has collected K2.6 billion through the Tax Amnesty campaign from October to March 31st 2023.

Finance Minister Dr Situmbeko Musokotwane announced that the funds were collected from the over 11, 700 tax amnesty applications received.

Dr Musokotwane said there has been overwhelming response to the campaign hence government’s decision to extend it.

“I am pleased to inform the nation that, following overwhelming response from eligible taxpayers, many of whom have continued to submit applications even as at this afternoon, the Government has extended the tax amnesty on tax penalties and interest obligations granted to taxpayers, which was introduced as part of the 2023 budget measures,” he said.

“In the 2023 budget speech, we announced the introduction of an amnesty program to give relief to taxpayers on penalties and interest accrued on tax obligations,” he said.

“The amnesty has been running from 1st October, 2022 and was scheduled to end today, 31st March, 2023. It has now been extended by three (3) months, with immediate effect, and will now end on 30th June, 2023.”

“For us, the positive response from taxpayers is a manifestation of the effectiveness of some of the tax-related measures which the Government introduced as part of the 2023 budget. Despite the slow start in the early days of the amnesty, Zambians have now appreciated the benefit of the measure to their businesses and are, therefore, applying in large numbers. We commend those who have applied and benefitted from the process but also take this opportunity to encourage others who have not done so to take advantage of the extension.”

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