ZRA Collected K45.9 Billion in Gross Revenues in 2017

ZRA Collected K45.9 Billion in Gross Revenues in 2017

The Zambia Revenue Authority (ZRA) has disclosed that it collected a total of K45.9 billion in gross revenues during last year, 2017.

The authority has also disclosed that it refunded K6.7 billion thereby recording net revenue of K39.1 billion which was 4.1 percent above the annual budget target of K37.6 billion.

Speaking during a press briefing in Lusaka, ZRA Commissioner General Kingsley Chanda says the positive performance was largely driven by the favorable performance of domestic VAT which was mainly propelled by the implementation of the withholding VAT mechanism.

Mr. Chanda also notes that the Tax Amnesty was revolutionary in Zambia’s Tax Administration history and received a very positive uptake from tax payers.

He discloses that the authority collected K4.1 billion in 2017 both from the Amnesty program and normal debt enforcement activities.

He says an additional K650 million is expected to be collected between now and June 2018 from Time to Pay Agreements that have so far been signed with tax payers.

And giving an update on Mukula exportation, Mr. Chanda says during the year under review, ZRA intercepted a total of 52 trucks laden with Mukula logs with an approximate value of over K9.3 million.

He says these trucks are currently detained at the premises of ZRA and other security wings of government.

He says once the investigations are concluded, these trucks will be forfeited to the state.