By ALICE NACHILEMBE
The Zambia Revenue Authority has exceeded it revenue target of K59.369 billion, it has been exceeded four months before the end of the year.
The Authority has collected K59.450 billion against the annual target of K59.369 billion and refunded K7.846 billion mainly to the mining sector.
ZRA Corporate Communications Manager Topsy Sikalinda said at the current trajectory, the Authority will post not less than K20 billion above the 2021 national revenue budget.
Mr Sikalinda said that the performance has largely been driven by automation, intelligence-led enforcement activities, enhanced transfer pricing audits in the mining sector, favourable copper prices and improved debt collection by the newly created Debt Recovery Unit.
He said all ZRA operating divisions namely Customs, Indirect Taxes, Direct Taxes and the Debt Recovery Unit are above target.
“Due to automation and robust debt enforcement, there was increased payment of outstanding arrears by some taxpayers including Government as well as increased payments of balance of taxes by some Mining and non-Mining companies,” he said.
Mr Sikalinda said with renewed confidence in the Zambian economy following the peaceful change of government and the pro-business UPND government policies, the Authority is expected to perform even better.
