ZiCA calls for timely payment of taxes

By BUUMBA CHIMBULUIT is incumbent upon accountants and every professional to ensure that taxpayers meet their tax obligations in a timely manner to support the treasury to meet in its fiscal responsibilities.As people at the front line of tax collection, accountants must be supportive of the tax collection system and ensure compliance with tax legislation by employers and clients.This is according to the Zambia Institute of Chartered Accounts (ZiCA) president, Cecilia Zimba.Ms Zimba acknowledged that the Zambia’s economy had in the past six year been characterised by energy deficits, high inflation, financial volatility, job cuts and other economic hardships.The situation, she said, had been worsened by Covid-19.She said this during virtual tax updates workshop held this month.The ZiCA president added that the factors would no doubt impact adversely on businesses’ ability to generate profits and contribute to the national treasury.Ms Zimba stressed that this would ultimately weigh down on the country’s ability to collect tax […]