ZRA EXCEEDS ITS 2021 ANNUAL TARGET BY K80 MILLION FOUR MONTHS BEFORE THE END OF THE YEAR

In an unprecedented revenue performance by the Zambia Revenue Authority since 1994, the 2021 Revenue Target of K59.369 billion has been exceeded four months before the end of the year.

The Authority has collected K59.450 billion against the annual target of K59.369 billion and refunded K7.846 billion mainly to the mining sector. On the current trajectory, the Authority will post not less than K20 billion above the 2021 national revenue budget.

This performance has largely been driven by automation, intelligence-led enforcement activities, enhanced transfer pricing audits in the mining sector, favourable copper prices and improved debt collection by the newly created Debt Recovery Unit.

All ZRA operating divisions namely Customs, Indirect Taxes, Direct Taxes and the Debt Recovery Unit are above target.

Due to automation and robust debt enforcement, there was an increased payment of outstanding arrears by some taxpayers including the Government as well as increased payments of balance of taxes by some Mining and non-Mining companies.

With renewed confidence in the Zambian economy following the peaceful change of government and the pro-business UPND government policies, the Authority is expected to perform even better.

The Authority takes this opportunity to thank all taxpayers for the great contribution they are making to our country.