ZRA warns taxpayers against failing to meet deadlines

THE Zambia Revenue Authority (ZRA) has issued a stern warning to taxpayers, urging them to stay on top of their responsibilities and not to ignore critical end of year deadlines.
The warning comes as a reminder to all taxpayers that the 2024 financial year will end on December 31, therefore, all business documents such as the Tax Clearance Certificate (TCC), Trading Licences and Permits with an expiry date of December 31, will no longer be valid by January 1, 2025.
According to ZRA Corporate Communications Manager Oliver Nzala, taxpayers must ensure they submit their tax returns by the required deadlines, pay any outstanding taxes and apply for refunds if eligible all before the year ends.
Mr Nzala emphasises that ZRA remains committed to ensuring compliance with tax laws and regulations and that it will take necessary action against those who fail to adhere to the deadlines. He im LLCplored all Value Added Tax (VAT) registered suppliers that effective January 1, 2025, input tax claims will be restricted to invoices issued from the Smart Invoice system.
He explains that tax invoices issued outside the Smart Invoice system up to December 31, 2024 will still be valid for input tax deduction in 2025, if they meet the 90-day validity period and other mandatory features of a tax invoice hence the need for all VAT registered suppliers are encouraged to register and use Smart Invoice.
Mr Nzala adds that importers, exporters and clearing agents with outstanding entries or transactions are also urged to finalise their transactions to avoid any inconvenience.
Mr Nzala also states that local authorities will in 2025 also request any individual or business entity applying for or renewing their trading licence or permit to present a valid Tax Clearance Certificate.