The Zambia Revenue Authority – ZRA- says it collected over 45 billion kwacha in gross revenues from January to December 2017.
ZRA Commissioner General, Kingsley Chanda has attributed the positive outcome to favourable performance of domestic VAT which was mainly propelled by implementation of the withholding VAT mechanism.
Speaking to journalists during a media briefing in Lusaka, Mr. Chanda said ZRA’s contribution to the GDP in 2018 has been set at 16-point 2 percent while the Agency has set its own internal target of 17 percent.
The Commissioner General has also explained that the total VAT collections, including those on imports were 46 percent above target in 2017.
Mr. Chanda stated that among the factors that contributed to the positive performance included implementation of the Amnesty on interests and penalties, debt swaps for state owned enterprises and anti-smuggling operations, among others.
He has noted that the tax Amnesty received a positive response from tax payers and that about 4 billion kwacha was raised in 2017 from both the Amnesty program and normal Debt Enforcement activities.
Mr. Chanda further said an additional 6 hundred and 50 million kwacha is expected to be collected between now and June, 2018 from Time to Pay Agreements signed with tax payers.