ZRA COLLECTS K339M TAXES IN Q1

THE Zambia Revenue Authority (ZRA) has collected K339.1 million in the first quarter of 2024, as it strategises towards achieving its target for this year.

The K339.1 million collected represented a 1.2 percent above target set for the first quarter.

This is contained in a presentation made by the ZRA Commissioner-General, Mr Dingani Banda, at the Mini Economic Summit in Lusaka on Friday.

The presentation was, however, made on his behalf by the ZRA acting Commissioner - Business Facilitation, Mr Richard Kapasa.

“Net revenue collections in the first quarter of 2024 were K339.1 million or 1.2 percent above target,” Mr Banda said.

ZRA this year is expected to collect K125.3 billion, which is 19.7 percent of the country’s Gross Domestic Product (GDP).

To achieve this revenue target, Mr Banda pointed out that the authority had put in place strategies meant to enhance compliance, among others.

He said ZRA had made considerable progress in modernising tax systems and processes to ease tax compliance for taxpayers through embracing technology including Artificial Intelligence. Mr Banda also said this was also being done with the implementation of the block management system and conducting rigorous audits. “This is being done through automating most business processes including customer service and administrative support systems and improving the functionalities and stability of tax systems,” he said. Other compliance enhancing measures pointed out by Mr Banda were implementation of a customs-to-customs data exchanges with the other countries such as Zimbabwe, Malawi and Botswana Revenue administrations. He also talked about continuing on the path of smart partnership strategies with Government institutions through the Zambia Electronic Single Window platform as another strategy. “Other compliance enhancing measures include: continued collaboration and engagements with agents for collection of taxes,” Mr Banda said.