ZRA rakes in K480 million tax revenue

Zambia Revenue Authority (ZRA) Commissioner General Kingsley Chanda has disclosed that the authority has raised over K480.9 million in revenue from January to May this year.

And Mr. Chanda has also disclosed that the authority has so far raised K105 million from the amnesty on tax defaulters which was launched in April.

The ZRA Commissioner General said this when Finance Minister Felix Mutati conducted a familiarization tour of the ZRA Headquarters this afternoon.

Mr. Chanda says the revenue raised in the first five months exceeded the target the authority had set for itself.

He also explained that from the amnesty launched in April, the authority has received a total of 89, 331 applications on tax amnesty, which he described as a good response from the general public.

Mr. Chanda informed the Finance Minister that this however does not mean that all the 89, 331 applications have been processed.

He says it is encouraging that the K105 million raised is mostly from Small and Medium entrepreneurs.

And Finance Minister Felix Mutati has encouraged tax payers to understand the value of paying tax as this is good for national development.

Mr Mutati says without taxpaying, it is practically impossible for any government to develop the nation.