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The Zambia Revenue Authority (ZRA) is working on the introduction of mandatory electronic customs bonds on July 1, 2023 to improve management customs clearance.
Commissioner general Dingani Banda said under the e-bond system, the application for customs bonds by declarants and guarantors will be submitted, confirmed and approved electronically.
Banda said on Wednesday in Lusaka that this would be followed by automated capture of bond utilisation.
“The major benefits associated with the e-bonds would include real time involvement of the guarantor in the issuance and approval of the bond unlike is currently the case under manual setup,” he said.
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He said that with the inherent human errors in updating of information related to manual bonds eliminated, the issue of misplaced and altered bonds will be a thing of the past as the entire process will be automated.
Banda added that e-bonds would be cost effective as the guarantors would no longer need to physically interact with ZRA as regards configuration of the bonds.
“This automation is well aligned with the authority’s vision of transforming our organisation into a data driven revenue adminstration that rides on automation for improved processing efficiency and heightened taxpayer service,” he said.
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