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ZRA expects to collect K23.7 billion in quarter one of 2023

• ZRA has so far collected a gross amount of K17 billion in January and February, 2023.
• The Authority refunded K2.7 billion in taxes.
• It collected a net of K15 billion against the target for the two months which is K16.4 billion.

Zambia Revenue Authority (ZRA) says it expects to collect tax revenue to a tune of K23.7 billion in the first quarter of 2023.
Speaking in an interview with Money FM News on the sidelines of the just ended ZRA/USAID media training on tax reporting, Authority Director-Research and Corporate Strategy Ezekiel Phiri revealed that ZRA has so far collected a gross amount of K17 billion in January and February, 2023.
Mr. Phiri also disclosed that during the same period, tax refunds for various tax claims amounted to K2.7 billion, leaving the Authority with net revenue of K15 billion against the K16.4 billion target for the two months.
“So far January and February we have collected K17.7 billion and we have refunded K2.7 billion. We have collected a net of K15 billion and this is against our target for the two months which is K16.4 billion,” Mr. Phiri stated.
He said this implies that ZRA is below target by K1.4 billion, but is confident that the Authority will be able to meet the K23.7 billion expected tax revenue as the first quarter comes to an end on 31st March 2023.
“So currently we are below target by K1.4 billion but we are hoping that going into March month end things will pick up, we should be able to meet the K23.7 billion for this quarter,” he added.
In 2023, ZRA is targeting to collect K93.6 billion of tax revenue, representing 17.5 percent of Gross Domestic Product (GDP) and 55.9 percent of the national budget.
This is higher compared to the 2022 tax revenue target which stood at K77.9 billion, representing 16.5 percent of GDP and 45 percent of the national budget.

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