ZRA devices costly for emerging traders - ZACCI
By BUSINESS REPORTER
CHARGING small scale traders for using the recently introduced Electronic Fiscal Devices (EFDs) may have a negative effect on their business, Zambia Chamber of Commerce and Industry (ZACCI) has said.
The Zambia Revenue Authority (ZRA) recently introduced EFDs and has since started rolling them out in Lusaka and on the Copperbelt under the pilot project.
ZACCI president, Michael Nyirenda, expressed concern that small-scale traders would not afford to meet the cost of the EFDS.
Mr Nyirenda said in an interview that ZRA should instead share the cost of the devices with traders.
“Yes those devices are expensive. In my view, it will inhibit the purposes and might defeat the good intention of trying to bring everybody on board.
“But if ZRA found it in their budget and say to everybody we have brought a device, you will have to use it because it is law, then it will be helpful to traders,” he said.
Mr Nyirenda explained that ZRA might end up collecting less taxes due to lack of payment from small scale traders who could not afford.
He said traders with low turnover might not be in the position to rent the devices because it would be costly.
ZRA recently that announced that it was not charging traders using the devices during the pilot phase expected to the end of July this year.
The authority further said it was yet to announce how much traders would be required to pay for using the devices.