ZRA, ZiCA seal agreement to deal with various tax evasion schemes

An agreement for collaboration on to prevent various tax evasion schemes and influence voluntary tax compliance among the business community has been sealed between the Zambia Revenue Authority (ZRA) and the Zambia Institute of Chartered Accountants (ZiCA).

ZRA has identified accountants as its ambassador in the prevention of various tax evasion schemes and in influencing voluntary tax compliance among the business community.

This is according to the ZRA Commissioner General, Dingani Banda at the signing ceremony of the agreement in Lusaka on Tuesday.

Banda pointed out that ZiCA was strategic partner to ZRA as it represented the interests of the business community through their role as the accreditors and regulators of accountants and finance professionals in Zambia.

He said ZRA desired to ensure that ZiCA was updated and was on board, on all tax related developments.

More importantly, he said, ZRA wished to ensure that input and feedback from ZiCA was incorporated in the design of various strategies aimed at improving service delivery and promoting voluntary tax compliance.

“It is our belief that through a strengthened ZiCA-ZRA relationship, we will be able to keep the accounting and finance fraternity regularly updated on new developments in the tax landscape as the authority strives to improve its operations in line with the ZRA 2022-2024 corporate strategic plan (CSP).

“Through such a relationship, we aim to make ZiCA and its general membership our number one ambassador in the prevention of various tax evasion schemes and in influencing voluntary tax compliance among the business community,” Banda said.

He mentioned that appropriate working groups would be established on an ad-hoc basis, with the aim of tackling specific matters that may require special attention.

Speaking earlier, ZiCA Chief Executive Officer, Anthony Bwembya, said this collaboration would strengthen the integrity of our financial systems and contribute to a favourable investment climate, attracting both domestic and foreign investors to our great nation.

Bwembya said this partnership would facilitate capacity building and knowledge sharing.

“ZiCA has a wealth of expertise in the field of accountancy and finance. by collaborating closely with the ZRA, we can offer valuable insights and training programmes to enhance the skills and competencies of board of directors of companies on key issues relating to taxation, accounting, auditing and ethics.

“This will contribute to a more competent and capable workforce, ensuring the effective collection of revenue and the efficient administration of fiscal policies,” he said.

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