Zambia’s tax agency said Thursday that it has managed to achieve the targeted revenue levy target four months before the end of the year.
The Zambia Revenue Authority (ZRA) said the revenue performance was unprecedented.
According to data, the tax agency has managed to collect 59.45 billion Zambian Kwacha (about 3.7 billion U.S. dollars) against the annual target of 59.369 billion Kwacha.
Topsy Sikalinda, ZRA corporate communication manager, said at the current trajectory, the agency will post not less than 20 billion Kwacha above the 2021 national revenue budget.
“This performance has largely been driven by automation, intelligence-led enforcement activities, enhanced transfer pricing audits in the mining sector, favorable copper prices and improved debt collection by the newly-created Debt Recovery Unit,” he said in a release.
He said there were increased payments of outstanding arrears by some taxpayers as well as increased payments of balance of taxes by some mining and non-mining companies due to automation and robust debt enforcement, while expressing optimism that the agency will perform even better following renewed confidence in the Zambian government after last month’s general elections and the pro-business policies of the new government. Enditem