Settle tax arrears before year-end or face penalties, ZRA warns businesses

The Zambia Revenue Authority (ZRA) has urged taxpayers to settle any outstanding tax arrears by December 31, 2024, warning that failure to comply could result in penalties and interest charges.

ZRA Corporate Communications Manager, Oliver Nzala, advised taxpayers experiencing cash flow challenges to consider entering a Time to Pay Agreement (TPA) with the Commission.

This arrangement allows them to spread their tax payments over monthly installments, easing the burden of settling the arrears in one lump sum.

In a statement issued on Tuesday in Lusaka, Nzala reminded businesses that tax compliance was mandatory for renewing trading licenses and permits with local councils in 2025.

“As the financial year draws to a close, taxpayers must fulfill obligations such as submitting tax returns and paying outstanding taxes to avoid penalties,” Nzala said.

He added that support would be available for taxpayers approaching the December 31 deadline.

Nzala also encouraged taxpayers to act promptly to avoid the end-of-year rush, emphasizing that failing to meet the deadline could lead to accumulating interest on any unpaid amounts.

“To provide extra support, ZRA service centers and contact lines are open, ready to assist taxpayers,” he said, while extending appreciation to those who contribute to national development through their tax payments.

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