The Zambia Revenue Authority-ZRA has collected over eight hundred billion kwacha in taxes from January to September this year.
ZRA commissioner general CHRITICLES MWANSA says the organisation has however recorded a deficit of five hundred and fifty three billion kwacha in the past nine months.
He attributed this to poor perfomance of trade taxes.
Mr MWANSA said the rapid depreciation of the kwacha against major currencies at the beginning of the year made the cost of importing goods very high and impossible.
He said the commission is however confident of meeting the tax targets despite many set backs experienced due to the economic down turn.
Mr MWANSA said this in a statement presented by Commissioner for domestic taxes WISDOM NHEKAIRO at a media briefing in Lusaka today.
Meanwhile ZRA has collected over one hundred and sixty billion Kwacha in mineral royalties over the past nine months beating the set target of one hundred and fourteen billion kwacha.
Mr MWANSA said ZRA has also embarked on a pilot audit report for three major mining companies in the country as part of its means of strengthening tax collections.
He said this will also include small scale mining companies so that all firms dealing in mineral exports pay taxes to government.
[ZNBC]
What’s the context, is Zambia any poorer or richer. How doeas all this translate to life improvement for the man on the streets?
Ishina lyaba Commisioner General lyachinfya!!!! He must be the only one in the world by that name “criticals”! Damn
Rest assured that a third of this money will go to elections or is it erections
This report must be inaccurate. How can K800 billion be collected in tax revenue when government expenditure is more thanK 10 ten trillion? The deficit is not that large.
All money is for MMD.
so mukampelako shinga ba Criticals? I have lost too much to your institution through VAT. Let,s scratch each other’s back.
shortfall=windfall tax