The Zambia Revenue Authority (ZRA) has advised the general public to register for Smart Invoice electronic billing system before the month end.
This follows the enactment of the Value Added Tax (Amendment) Act No. 27 of 2023 and the gazetting of the value added Tax ( Electronic Invoicing System) Regulations, Statutory Instrument No. 58 of 2023.
ZRA Southern region director, Alice Haamukale, says effective July 1,2024, it will be law for the business community including registered VAT taxpayers to use the Smart Invoice electronic billing system.
Ms. Haamukale says the smart invoice system is an electronic billing system designed to manage all invoices and inventory data, which will be transmitted to the ZRA by taxpayers.
ZANIS reports that the Authority’s Southern Region Director said this during a stakeholders engagement meeting in Chipata district, today.
“ Government through the ministry of finance made a pronouncement that it has introduced a new system of invoicing called the smart Invoice and all VAT taxpayers will be required to use the electronic billing system effective July 1, 2024,” she said.
ZRA remains resolute to reduce indebtedness of clients through application of intrusive tools that ensure equity across all taxpayers.
The Authority is committed to improve compliance and thus able to generate tax clearance certificates resulting in increased business opportunities.
“ It is ZRA’s desire to have compliant and responsive taxpayers hence, the need to network with stakeholders from the business community, “ she said.
And Eastern province chamber of commerce and industry Chief Executive officer Alice Mkandawire said the meeting was a good platform for taxpayers to grasp technical matters on tax incentives, innovations and obligations.
“ Many times there are a lot of changes going on, many government pronouncements but we are rarely engaged. Such meetings create a platform for taxpayers and the business community to grasp all the necessary information,” she said.
Ms. Mkandawire stressed the need for consumers to demand a receipt upon purchase of goods and services as it is their right.
She further called upon stakeholders to be tax compliant and register for the smart invoice system so that the country can mobilize the much needed revenue.
