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More than K3.5 million has been recovered by the Zambia Revenue Authority (ZRA) through the cases concluded at Financial Intelligence Centre (FIC).
The Authority through quarterly report receives reports from FIC, which are acted upon through investigations and tax audit.
This is according to the Authority Corporate Communications Manager, Oliver Nzala, in a statement issued in Lusaka on Sunday.
Nzala explained that the Authority had concluded seven reported cases from the FIC, which resulted in the recovery of over K3.5 million.
This was out of the K34.4 million that was issued in assessments to the taxpayers from January to March 2023.
Nzala further stated that in the pursuit of its investigations, the Authority ensures that tax evaders are assessed for tax and they may also be prosecuted for non-compliance with the revenue laws.
“In line with the recommendations of the FIC Report, cases are also referred to the Anti-Corruption Commission (ACC) for suspected money laundering offences, having tax evasion as a predicate offence.
“ZRA is intensifying its fight against illicit financial flows by working with law enforcement agencies through the exchange of information and enforcing of domestic tax laws and policies so that taxpayers pay their dues from businesses,” he said.
He added that the sharing of intelligence on tax issues creates an opportunity for the Authority to combat tax evasion and tax frauds, which are all elements that undermine the capacity to generate the legitimate revenue for the people of Zambia.
“The Authority fully supports the collaborative mechanism that has been put in place between various government agencies to fight money laundering and Illicit financial flows,” Nzala said.
He also reminded taxpayers that tax evasion is a predicate offence to money laundering and may have wide ranging consequences for those who engage in such a practice.
“ZRA continues to take FIC disseminations with utmost urgency and will continue to follow up these cases and recover all taxes due to the government of the Republic of Zambia,” Nzala stated.
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