BANKERS DATE ZRA

The Zambia Revenue Authority today held a meeting with the Bankers Association of Zambia to review areas of mutual interest in tax administration.

Speaking at the event, ZRA Commissioner General Dingani Banda thanked BAZ and the Heads of the banks present for the mutually benefitting relationship the Authority has had with the banks for over 10 years. 

“This partnership is also a recognition of the important role the financial sector plays in tax administration. we recognize that your role now covers a wider scope of tax administration processes which includes facilitating TPIN registration, business registration and tax payments”, Mr. Banda said. 

He said that currently, over 98% of taxes collected by the ZRA are paid through the digital platforms thereby simplifying the transaction cycle to within 24hrs as compared to the old manual systems where it used to take as long as 3 days before a payment made at a remote border would be credited to the government account at the Bank of Zambia.

“Let me reassure you of our commitment towards continuous innovation and process improvement as we promote voluntary compliance and also effect systems-based controls.   to this effect, we will continue to engage stakeholders in our ecosystem to explore ways in which we can work together,” Mr. Banda added. 

And Bankers Association of Zambia Chairperson Herman Kasekende thanked ZRA for its commitment towards digitizing the tax administration space in order to make the payment and collection of taxes easy.

Mr. Kasekende pledged the banking sector’s support towards the Revenue Authority in order to efficiently meet stakeholders’ expectations.