THE Zambia Revenue Authority (ZRA) has issued a stern warning to taxpayers to meet the year-end deadlines to avoid penalties and potential business disruptions.
The Authority has further reminded businesses that a valid Tax Clearance Certificate (TCC) will be mandatory for applying for or renewing trading licenses with local authorities in 2025.
In a statement, ZRA Corporate Communications Manager Oliver Nzala underscored the importance of filing tax returns and settling outstanding obligations before December 31, 2024.
“The caution serves as a reminder to all taxpayers that the 2024 financial year will end on December 31. Therefore, business documents such as the Tax Clearance Certificate (TCC), Trading Licenses, and Permits with an expiry date of December 31 will no longer be valid as of January 1, 2025,” Nzala said.
The ZRA also announced a major update for Value Added Tax (VAT) registered suppliers.
Effective January 1, next year. only invoices generated through the ZRA Smart Invoice system will be accepted for VAT input tax claims. Nzala urged VAT suppliers to register and adopt the Smart Invoice system to ensure compliance.
The TCC, which certifies that a taxpayer has no outstanding tax obligations, now features a QR code for easy verification of its validity.
Nzala advised taxpayers experiencing financial difficulties in settling their liabilities to apply for a “Time to Pay Agreement” with the ZRA.
Importers, exporters, and clearing agents with pending transactions were also strongly encouraged to finalize their entries promptly to avoid inconvenience.
By Moses Makwaya
Kalemba December 23, 2024
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