By BUUMBA CHIMBULUA programme to provide practical assistance in the audit of companies within the banking and finance sector as well as telecommunications sectors has been launched by the Zambia Revenue Authority (ZRA)The Tax Inspectors Without Borders (TIWB) audit assistance programme is jointly conducted by the Organisation for Economic Cooperation and Development (OECD) and United Nations Development Programme (UNDP),It will be conducted by the Swedish Tax Agency (STA).ZRA Commissioner General, Kingsley Chanda, said Zambia faced many challenges in the taxation of the banking and finance sector as well as telecommunications sectors.Mr Chanda said ZRA auditors therefore needed to understand business models and value chains, particularly revenue recognition in the telecommunications sector and financial instruments in the banking and finance sector.“The first one was in 2018/ 2019 relating to audit assistance in the Mining Industry where we recorded notable success arising from the programme. We were assisted by experts from the South African Revenue Service (SARS).“It […]
ZRA embraces new audit initiative
