ZRA Exceeds Target By Over K2 Billion

The Zambia Revenue Authority (ZRA) has announced that they have exceeded its target goal in the first half of 2022. The authority announced that it had collected K48,309.9 million despite its target of K46,203.9 million.

The K2.1 Billion surplus was attributed to the strong performance of direct taxes driven by high and sustained rises in copper prices during the period.

Additionally, the higher revenues can be accredited to strong policies implemented by the ZRA in their Corporate Plan. This included the extensive use of data to find unpaid taxes, the use of technology to simplify the tax-paying process as well as engagement and education which are among some of the policies which have helped.

The news was announced by ZRA Commissioner General Dingani Banda.

He stated, “Gross collections during the second quarter of 2022 increased by 10.6 percent in nominal terms when compared to the corresponding quarter in 2021, while net collections in the first half of 2022 increased by 24.2 percent relative to the same period in 2021. The total refunds in first half of 2022 at K8,100.0 million increased by 57.4 percent compared to K5,146.7 million refunded during the corresponding period in 2021.”

With regard to revenue performances, mining and quarrying, wholesale and retail trade and manufacturing were the top performers contributing to 63.3% of revenues.