ZRA extends TPIN registration
By BUUMBA CHIMBULU THE extension of Tax Payer Identification Numbers (TPIN) registration to June 30 2018 will increase commercials banks compliance levels which currently stands at an average of 18 percent, says the Bankers Association of Zambia (BAZ).
According to BAZ, only 18 percent of the customers had confirmed registration of the TPINs with commercial banks as of last week.
The Zambia Revenue Authority (ZRA) last week extended the deadline for TPIN to June 30 from March 31 to allow more taxpayers an opportunity to register.
Commenting on the development, BAZ chief executive officer, Leonard Mwanza, said the extension would allow the industry increase its compliance levels.
“We are happy there has been an extension but what we are looking forward to is to ensure that all register. One of the reasons the ZRA has extended is because we realises that banks were at 18 percent compliance levels, “When you look at the number of people who have registered, well over 350, 000 people and yet we have more than two million existing bank accounts across the banking sector,” he said.
Mr. Mwanza said in an interview that some of the banks had created applications which enabled their clients register for TPINs.
He encouraged banks customers to register for TPINs through their bank branches and via some apps which had been created.
“We are working closely with ZRA in ensuring many people acquire TPINs. So we requested for an extension but I think what is important for now is that we work together and see how the process can be expedited by all market players,
“We are also hoping to see how ZRA can allow banks to send information of customers so that the process can be expedited and we look forward to every customer having their TPIN by 30th of June,” Mr. Mwanza said.