Zambia Revenue Authority (ZRA) Commissioner General Kingsley Chanda has said that the debt collection strategies that were put in place yielded positive results in 2019.
He said that out of the total debt stock of K36.6 billion the debt recovery unit collected K6.3 billion.
The bulk of the total debt stock is uncollectable and the process of remitting the uncollectable debt has begun and we hope to conclude by the end of 2020.Said Mr Chanda.
He noted that there were more collaboration and coordination between the various units which resulted in improved collections.
Mr Chanda added that initiatives to reduce debt stock included debt swaps with some taxpayers through the government.
He further stated that the authority continued to implement off-sets for tax liabilities against refunds owed to taxpayers.
The commissioner said that 2019 marked the first year of implementation of the 2019 – 2021 ZRA corporate strategic plan which is a blueprint for achieving medium-term corporate objectives.
He noted that the authority was on course in terms of achieving the corporate objectives through the plan’s four strategic pillars, that is, tax compliance, customer focus and collaborations, process efficiency and getting the right people in ZRA jobs.
Our performance in 2019 was exceptional across all our corporate strategic pillars as well as against the revenue target for the year.He said
Mr Chanda attributed this to the exceeded revenue target of k51.8 billion for the fiscal year 1st January 2019 to 31st December 2019 by k1.1 billion.
Mr Chanda said this at a press briefing on the 2019 performance of the Zambia Revenue Authority held at Pamodzi hotel on 7th January 2020.