ZRA, BAZ agree on TPIN

ZRA Commissioner General Kingsley Chanda

The Zambia Revenue Authority (ZRA) and the Bankers Association of Zambia (BAZ), have agreed to smoothen and quicken the process of ensuring banks account holders who do not have Taxpayer Identification Numbers (TPINs) are helped to register.

Speaking during a meeting involving the two parties last Friday, ZRA Commissioner General Kingsley Chanda said a technical team which begun its work today, Monday 27^th February, 2017 will work out the details of how quickly people who want to open bank accounts can be registered for TPINs and also how to deal with already existing bank account holders.

Mr. Chanda says as part of the simplification, the requirement to submit a sketch map has been temporary waived to facilitate quick registration for bank clients.

And BAZ Chief Executive Officer, Leonard Mwanza says bankers will work with ZRA to quicken the process of ensuring that bank account holders who do not have TPINs are helped to get them.

The Government enacted legislation effective 1^st January, 2017, making it mandatory for financial institutions registered under the Banking and Financial Services Act to require all bank account holders to obtain a Taxpayer Identification Number issued by the ZRA.