Fri, 23 Jun 2017 10:33:08 +0000 By BUUMBA CHIMBULU THE Zambia Revenue Authority (ZRA) has exceeded its 2017 operational target for the first five months by K480 million, representing 3.3 percent above target. According to ZRA senior corporate communications officer, Oliver Nzala, the development was against the 2017 operational target. He explained that Parliament in the 2017 national Budget approved a revenue target of K37.622 billion, subject to the legislation of specific tax measures among which was the tax on copper concentrates and border crossing fees. He said Parliament however did not legislate some of the proposed tax measures, resulting in a revision of the 2017 operational target for ZRA to K36.774 billion. In April, 2017, ZRA also introduced the tax amnesty in order to provide relief to taxpayers on interest and penalties while collecting the principal tax. The authority has also adopted zero tolerance to smuggling and tax evasion. Mr Nzala said in a […]
