By BUUMBA CHIMBULU ZAMBIA Revenue Authority (ZRA) has paid K1.3 billion in Value Added Tax (VAT) refunds in November this year surpassing its usual monthly allocation. The Authority had continued to dismantle the VAT refunds aimed at reducing the backlog currently at about K37 billion, ZRA corporate communications manager Topsy Sikalinda said in a statement at the weekend. Mr Sikalinda said the Authority on monthly basis paid out a total of K850 million, which was way higher than what was paid in November this year. Mr Sikalinda explained that the decision to refund higher figures was meant to clear the backlog of the audited refunds especially for the Small and Medium Enterprises (SMEs), which had been outstanding since 2013. “In the payments for the months of October and November, the Authority has cleared most of the backlog on a First In First Out basis for audited refunds below K5 million from 2013 to 2019. “The […]
ZRA pays K1.3bn refunds – The Authority last month surpassed its usual monthly payments
