TRADERS not issuing tax invoices will be paying a penalty fee of K90, 000, the Zambia Revenue Authority (ZRA) has warned.
ZRA Commissioner General, Kingsley Chanda, warned that that all traders found wanting for not issuing tax invoices would be penalised via a K90, 000 fee.
Mr Chanda said in Lusaka during a press conference that it was time for traders to start complying with tax laws and avoid paying penalties.
“If you do not just issue a tax invoice, the fine is K90, 000. This for some businesses is your monthly turnover, so why do you want to suffer unnecessarily?,
“I am warning all traders that you must start issuing tax invoiced and making correct declarations in terms of tax returns,” he warned.
Mr Chanda appealed to taxpayers to voluntarily comply with tax laws and avoid penalties and other fines.
He said voluntary compliance with tax laws was important because the cost on non-compliance when caught was not pleasant.
“If you go to our Makeni yard now, you will find a lot of trucks that have been impounded for smuggling, some of those trucks have been there for one year and we are about to sell them off,
“They are forfeited and they will be sold. Why would you want to go through that? Even for those doing domestic transactions why would you want to invade?” he asked.
Meanwhile, Mr Chanda encouraged foreign suppliers of specialised goods and services to partner with Zambians as all contracts from ZRA would be given to local contractors.
Mr Chanda explained that ZRA procurement policy was that all works and supply contracted must be given to Zambians.
“My administration has implemented all the recommendations of the procurement guidelines as suggested by the Zambia public procurement authority during the 2019 compliance and capacity assessment of the procurement and supplies unit,” he said.