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The Zambia Revenue Authority (ZRA) has announced that it collected a net collection of K57.7 billion last year.
ZRA Commissioner General Kingsley Chanda says this outturn was 17.7 percent of Gross Domestic Product (GDP) compared to 17.8 percent of GDP in 2019.
Mr. Chanda says when measured against the Parliament target, this revenue outturn was K1.3 billion or 2.2 percent below target. The ZRA boss said this at a press briefing on the performance of the Zambia Revenue Authority in 2020 and the prospects for 2021.
“This performance is highly commendable for which I would like to applaud my management team and staff for this extraordinary effort under difficult circumstances. May I also mention that this performance relates to taxes collected by the Zambia Revenue Authority and does not include revenue collected by other government departments in form of non-tax revenue. I further would like to indicate that the Ministry of Finance will at an appropriate time and in line with its
The Zambia Revenue Authority (ZRA) and the Drug Enforcement Commission (DEC) have signed a bilateral Memorandum of Standing (MoU) aimed at strengthening the collaboration in combating and preventing tax crimes and drug trafficking.
The MoU is also targeted at addressing issues of money laundering and other offences related to the importation and exportation of prohibited or controlled goods or substances and cash.
And Attorney General Likando Kalaluka has underscored the need for the country to have effective mechanisms, collaboration and coordination in the fight against tax crimes, money laundering and other vices.
Mr. Kalaluka explained that Zambia is a member of the Anti-Money Laundering Authority (AMLA) which has set requirements for countries to have a well-coordinated effort in money laundering at the highest level of their operations.