Tax revenue critical for fiscal fitness. – ZRA
By Staff Reporter
The Zambia Revenue Authority says tax revenue is critical for any country’s fiscal fitness and its sustained economic growth.
ZRA Commissioner General Kingsley Chanda said during a stakeholders workshop with Sherwood Green, an agent appointed to collect withholding tax on rental income that taxes were important determinants of economic growth, and effective tax administration could significantly increase economic and social welfare.
“Therefore, the role of tax agents in tax revenue mobilisation is very important. Apart from Sherwood Green, ZRA has, so far, also appointed the Zambia National Marketers Credit Association (ZANAMACA) as its tax agent for the collection of base tax. More agents will be appointed as soon as the procurement processes have been completed, therefore, engagements such as this with relevant stakeholders is essential in improving tax administration and the development of effective and responsive tax policies,” he said.
He added that this relationship will ultimately increase the revenue collections from rental income tax.
He said that a vibrant and efficient domestic tax system was a cornerstone of national development.
