Sat, 11 Feb 2017 10:10:00 +0000 THE requirement for all bank account holders to have a Taxpayer Identification Number (TPIN) is targeted at those who evade paying taxes by using personal accounts to conduct business, the Zambia Revenue Authority (ZRA) has clarified. ZRA commissioner general Kingsley Chanda, explained in an interview that there would be no taxes on customer’s deposits, especially those with personal accounts which were not used for business purposes. “There is no tax on your deposits. The reason we are linking your personal account to a TPIN is because there are some people who use their personal accounts to do business. “Businesses are required to have a TPIN and registered for various taxes. They deposit money that they earn from businesses into their personal accounts and those businesses remain untaxed,” he said. Mr Chanda said the TPIN was for intelligence purposes and monitoring of company transactions while ensuring that people open […]
Bank account holders TPIN requirement for tax evaders – ZRA
