Revenue authority warns taxpayers against missing 2024 year-end deadline

The Zambia Revenue Authority (ZRA) has urged taxpayers to adhere to the 2024 end-of-year tax deadline, with the financial year concluding on December 31, 2024.

ZRA Manager for Corporate Communications, Oliver Nzala, in a statement issued on Monday, reminded taxpayers that documents such as Tax Clearance Certificates (TCC), Trading Licences, and Permits expiring on December 31, 2024, will become invalid on January 1, 2025.

Nzala emphasized that all Value Added Tax (VAT) registered suppliers must note that input tax claims from January 1, 2025, will only be allowed for invoices generated through the Smart Invoice system.

However, tax invoices issued outside the system before December 31, 2024, will remain valid for input tax deduction in 2025 if they meet the 90-day validity period and mandatory tax invoice features.

“VAT-registered suppliers are encouraged to register and utilize the Smart Invoice system for seamless compliance,” Nzala advised.

He also called on importers, exporters, and clearing agents with pending transactions to finalise them before the deadline to avoid disruptions.

“Taxpayers must settle all outstanding tax returns and payments by December 31, 2024, to qualify for a new Tax Clearance Certificate effective January 1, 2025,” Nzala added.

From 2025, individuals and businesses applying for or renewing trading licenses or permits would be required to present a valid TCC issued by ZRA, certifying they have no tax debt.

The TCC has been automated and now includes a QR code for real-time compliance checks and validity updates.

Nzala further highlighted the availability of a Time to Pay Agreement (TPA) for businesses facing cash flow challenges, allowing them to negotiate a payment plan for outstanding taxes.

Taxpayers were cautioned that late filing of returns and tax payments would attract penalties, reinforcing the importance of meeting all obligations before the year ends.

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