By BUUMBA CHIMBULUABOUT K3 billion has been paid out by the Zambia Revenue Authority (ZRA) under Value Added Tax (VAT) refunds during the first quarter of this year. The largest portion of this amount has been channelled to the mining sector, says ZRA Commissioner General, Kingsley Chanda. Mr Chanda said ZRA was committed to paying all VAT refunds, emphasising that the organisation on average of every month paid claims amounting to K850 million. He said ZRA would continue to refund an average of K850 million every month but indicated that in some months refund claims were higher than what was budgeted for, paying about K1 billion. “You many recall we had a lot of arrears that arose from the time we had issues with VAT Rule 18, which was later resolved and had to change the regulation to accommodate the challenges the tax payers had,” he said in an interview.Mr Chanda explained that ZRA’s strategy was […]
ZRA PAYS K3BN VAT REFUNDS
