By Balewa Zyuulu
Zambia Revenue Authority –ZRA-has surpassed its 2019 revenue collection target of K51.8 billion by K1.1. Billion.
Addressing the media in Lusaka this morning, ZRA Commissioner General, Kingsley Chanda disclosed that during the year ended, the authority collected K63.8 billion in gross revenue while refunds stood at K10.9 billion resulting in a net collection of K52.9 billion.
Mr. Chanda has also revealed that ZRA paid out K10.5billion in value added tax refund while a further K400 million was refunded towards direct taxes.
Meanwhile, the Authority has set the target for revenue collection at K59 billion for this year.
And Mr. Chanda says the authority also recorded significantly poor yields in mineral royalty and exercise taxes mainly due to challenges the mining firms experienced.
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