ZRA insists no extension in September 30 deadline for implementation of Smart Invoice system

The Zambia Revenue Authority (ZRA) has raised K53.1 billion through the registration of 19,262 taxpayers on the Smart Invoicing System.

The authority also confirmed that there would be no extension to the September 30, 2024, deadline for penalties on non-compliance with the system.

ZRA Commissioner-General, Dingani Banda, made this announcement during his presentation at the 2025 Budget Symposium held at the Mulungushi International Conference Centre in Lusaka on Monday.

Despite concerns from the Zambia Tourism Council, which called for a suspension of the Smart Invoicing System due to its potential to raise the cost of doing business in the sector, Banda reaffirmed ZRA’s commitment to supporting taxpayers in complying with the system.

“A grace period for enforcement of penalties and sanctions for non-use of the Smart Invoice System by all Value Added Tax (VAT) registered taxpayers was in effect from July 1, 2024, to September 30, 2024,” Banda said.

He further emphasized that starting from January 1, 2025, input tax deductions for VAT will only be allowed for transactions recorded through the Smart Invoice System, except for invoices from taxpayers exempted by law.

“As of September 27, 2024, a total of 19,262 taxpayers were registered on the Smart Invoice System, with a total invoice value of K53.1 billion. ZRA will not extend the deadline of September 30, 2024, for the imposition of penalties for non-compliance,” Banda stressed.

He also highlighted a spike in both VAT and Turnover Tax (TOT) registrations in June 2024, due to the upcoming July 1 deadline.

However, he noted that registrations declined following the announcement of the grace period, though Banda projected another increase in September as the penalty imposition begins on October 1, 2024.

WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.