ZRA continues to dismantle VAT refunds

Mwila Nsofu-The Zambia Revenue Authority -ZRA -has continued to dismantle Value Added Tax -VAT- refunds to reduce the backlog currently at about 37 billion kwacha.

The Authority has in the month of November paid 1-point 3 billion Kwacha in refunds surpassing the usual 8- hundred and 50 million Kwacha monthly allocation.

ZRA – Corporate Communications Manager TOPSY SIKALINDA says the decision to refund higher figures is meant to clear the backlog of the audited refunds especially for the Small and Medium Enterprises -SMEs- which have been outstanding since 2013.

Mr. SIKALINDA says in the payments for the months of October and November, the Authority has cleared most of the backlog on a First In First Out basis for audited refunds below 5-million kwacha from 2013 to 2019.

He said in a statement to ZNBC news that the tax refunds are projected to rekindle microeconomic activity at the local level, push liquidity in the Small and Medium Scale Entrepreneurs.

Mr. SIKALINDA said the Authority will continue working closely with the stakeholders to ensure the backlog is liquidated and businesses continue operating in a thriving environment.

He said as announced last month, the Authority will continue implementing a more business-oriented, transparent and predictable refund mechanism that will stimulate the growth of the business sector.

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