•       ZRA has collected a net collection of K57.7 Billion of Revenue in 2020.

•       Revenue performance outturn was K1.3 Billion below target.

•       Government has set ZRA Tax revenue target for 2021 at K59.3 Billion.

Zambia Revenue Authority(ZRA) has collected a net collection of K57.7 billion of Revenue in 2020 an out turn of 17.7 percent of Gross Domestic Product(GDP) compared to 17.8 percent in 2019.

Speaking at a press briefing on the performance of the ZRA in 2020 and the prospects for 2021, ZRA Commissioner General Kingsly Chanda explained that the revenue performance which is highly commendable is K1.3 billion below target when measured against the recently revised parliament target from K59 Billion Kwacha.

“In response to the disruption to the economic fundamentals, government revised its 2020 tax revenue projection downwards from K59.0 billion approved by parliament, despite these negative expectations, I am happy to announce that the Zambia Revenue Authority collected a net collection of k57.7 billion,” he said.

Mr. Chanda revealed that the performance relates to taxes collected by ZRA only stating that it does not include revenues collected by other government department in form of Non-Tax revenue and other fees which the Ministry of Finance will give a brief at an appropriate time.

He further disclosed that government through the Ministry of Finance has set the tax revenue target for ZRA in 2021 at K59.3 Billion.

The Commissioner General said that while the target may not be significantly different from the 2020 target, the 2021 target will be harder to achieve given the contraction of the economy in 2020 and the modest projected real Gross Domestic Product growth for 2021.

“I am optimistic that the actualization of initiatives set out in the economic recovery programme will support a macroeconomic environment favorable to revenue collection,” he noted.

Commissioner Chanda however said the sudden resurgence and evolution of the covid-19 poses a threat to attainment of projected real GDP growth with its attendant disruptions to supply chains due to national lockdowns in the region.