THE Zambia Revenue Authority has disclosed that it achieved 98% of its 2020 revenue target pegged at K59 billion for the financial year 2020.
ZRA collected 57.7 Billion kwacha against an approved target of K59 billion, outperforming majority revenue authorities across Africa.
Comparatively, Kenya Revenue Authority (KRA) missed its tax collection target for 2020 by Sh186.3 billion. Commissioner General for KRA Githii Mburu said the taxman collected Sh1.09 trillion against a target of Sh1.28 trillion which is only 85%. In Nigeria, that country’s Revenue Authority missed it’s target by 8%.
Back home, ZRA commissioner General Kingsley Chanda says that K57.7 Billion revenue was collected in 2020 while 5,769 accounts valued at K16.4 billion for taxpayers based in Lusaka and the Copperbelt were reconciled amid the covid 19 disruptions.
And Mr. Chanda disclosed that it paid K12.9 billion in tax refunds in 2020 compared to the K10. 5 billion paid in 2019.
He says the increase in the amount refunded in 2020 is line with the authority’s desire to dismantle all outstanding tax refunds especially value added tax VAT. Mr. Chanda says the authority invested over K40 million in the procurement of high earned and confiscated servers for online services.
Mr. Chanda says 3,344 consignments were intercepted resulting K35.2 million. Mr. Chanda said 17 prosecutions cases on fraud, tax evasion and smuggling out of which 15 resulted in convictions.