Wed, 04 Jan 2017 14:50:22 +0000 By BUUMBA CHIMBULU A NEW tax collection strategy known as ‘‘collection at source’’ has been introduced by the Zambia Revenue Authority (ZRA) on all consumption duties. ZRA commissioner general Kingsley Chanda explained that the strategy would allow the authority to collect taxes at source. Mr Chanda further explained that companies paying suppliers would directly pass it on first to the authority for tax collection. “We have changed the way these taxes are collected; we have introduced collection at source where we will ensure that we remit taxes directly from Government paying suppliers where VAT is payable. “If it is mines paying suppliers both local and foreign, they will withhold the VAT and pass it on directly to ZRA,” he said. Mr Chanda said the new system would help minimise leakages on consumption taxes which occurred through the current ZRA payment system. He said the authority came up with […]
