ZRA anticipates K2.5bn From Frozen Accounts

ZRA anticipates K2.5bn From Frozen Accounts

ZAMBIA Revenue Authority (ZRA) expects to raise K2.5 billion by December from freezing accounts of businesses that have abrogated their pay agreements.
The exercise will be extended to business entities that have not entered into payment plans with the authority to settle tax arrears.
Last week, ZRA started issuing warrants of distress and garnishee orders on all business organisations that have not met their tax obligations.
A garnishee order is a legal notice that allows a creditor to recoup funds from a debtor by means of a deduction from their salary or other sources. The process could also include reaching the debtor’s property when it is in the hands of someone.
In an interview last Friday, ZRA Commissioner General Kingsley Chanda said the response to the amnesty exercise has been positive.
“I don’t have actual figures to clearly state how the exercise is progressing but the response is good. However, for those not consistent with their time to pay agreements, we will continue issuing warrants of distress as a route to collect revenue. We expect to raise K2.5 billion from this exercise by December this year,” he said.
And ZRA corporate communications manager Topsy Sikalinda confirmed the authority has moved in with warrants of distress and garnishee orders on all business organisations that have not met their tax obligations.
“This also includes taxpayers who have abrogated their time to pay agreements. The authority wishes to advise that the amnesty on interests and penalties is still open until July 31, 2017. Businesses are encouraged to take advantage of the amnesty and put their tax accounts in order,” he said in an emailed statement.
Mr Sikalinda said the amnesty allows taxpayers to have a 100 percent waiver on interests and penalties provided the principal taxes are cleared.

One Response to "ZRA anticipates K2.5bn From Frozen Accounts"

  1. Amani Mahoro Peace   May 15, 2017 at 10:06 am

    Rwandan President, Paul Kagame, a perpetual liar,calling himself “stupid”