The Zambia Revenue Authority says it collected K364.2 million value added tax returns from the mining sector last year.

Addressing the media during the end of year review for 2019 in Lusaka, Zambia Revenue Authority Commissioner General Kingsley Chanda said assessments of more than K10.4 billion have been raised against erroring tax payers in the mining sector.
Mr Chanda says other assessments in the sector are still under discussion and the authority hopes to conclude collections of the taxes this year.

“The authority also managed to complete audit of 4 custom transactions of mining firms for the period of 2013 to 2017 which resulted in in assessments of 425 million collected last year” Mr Chanda said.
And Mr Chanda says the Authority it surpassed its 2019 revenue target of K51.8 billion by K1.1 billion.
“Zambia Revenue Authority collected K63.8 billion in gross revenue while the refunds stood at K10.9 billion resulting in a net collection of K52.9 billion” Mr Chanda announced. 

He said the net collection of K52.9 billion translates to 17.6% of the projected gross domestic products estimate for 2019 compared to the targeted 17.3%.