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More than K15 billion has been paid to various companies in Value Added Tax (VAT) refunds as at November this year by Zambia Revenue Authority (ZRA).
The VAT refunds stretch as back as 2013, with the Authority on Tuesday, December 13, 2022, announcing that they had made significant progress in reducing the backlog.
In making the announcement, Commissioner General Dingani Banda, indicated that the Authority had disbursed K15.2 billion to the business community in VAT refunds.
This is an increase from last year’s payment of K11 billion compared to K15.2 billion from January to November this year.
He said this during an engagement with the Chinese Chamber of Commerce in Zambia (CCCZ) in Zambia’s capital, Lusaka.
Banda indicated that the Authority increased the payments in VAT refunds to the business community to enable them have minimal challenges in their operations.
He said it was important for the Chinese business community to use this engagement to understand the different tax provisions and clarify on tax matters
“Our objectivity of this meeting is to engage the business community and help you have a good understanding on how ZRA operates.
“We also want to understand how the Chinese business community operates in the country and appreciate some of the challenges they face with regards to tax,” Banda said.
Zambia Revenue Authority commissioner general Dingani Banda interacting with Chinese chambers of commerce in Zambia president Li Tie during an engagement meeting with the Chinese Chamber of Commerce in Zambia Lusaka picture by Jean Mandela
He said they would deal with issues of language barriers and explore ways on how tax compliance can be enhanced for the good of the Zambian economy.
CCCZ president Li Tie said they are committed to contribute to the growth of the Zambian economy at various levels and comply with the country’s laws.
Mr Li acknowledged that most Chinese businesses have found themselves wanting with
authorities because they do not understand the law.
“This is an important meeting, we want to pay tax according to the law and avoid penalties. Here we will discuss various matters to do with tax,” Mr Li said.
He said the Chinese business community are ready to be tax compliant and work with ZRA on tax issues.
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