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Monday, February 6, 2023
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HomeBusinessZambia Revenue Authority nets K83bn

Zambia Revenue Authority nets K83bn

THE Zambia Revenue Authority (ZRA) has clarified that it made a net collection of K82.9 billion from January to November 2022 compared to the K78 billion collected in 2021.

ZRA Commissioner General Dingani Banda (right) explained that in the same line, the authority disbursed about K15.1 billion in Value Added Tax (VAT) refunds to businesses as at November, this year.

This is an increase from K11 billion disbursed in 2021.

The clarification is in response to an earlier article in this publication yesterday in which it was erroneously stated that ZRA disbursed K82bn in VAT refunds.

Mr Banda said in Lusaka that ZRA increased payments in refunds to enterprises to help them have minimal challenges in their operations.

He explained that ZRA had significantly reduced the backlog of refunds which stretched as back as 2013.

ZRA has been engaging with various businesses as part of its strategic pillars of collaboration, with a focus of engaging members to clarify tax matters.

The objective is to engage the business community and help them have a good understanding of how the authority operates.

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