Africa-Press – Zambia. The Zambia Revenue Authority (ZRA) has continued to dismantle Value Added Tax (VAT) refunds to reduce the backlog currently at about K37 billion. The Authority has in the month of November paid K1.3 billion in refunds surpassing the usual K850 million monthly allocation.
ZRA Corporate Communications Manager Topsy Sikalinda said that the decision to refund higher figures is meant to clear the backlog of the audited refunds especially for the Small and Medium Enterprises (SMEs) which have been outstanding since 2013.
Mr. Sikalinda says in the payments for the months of October and November, the Authority has cleared most of the backlog on a First In First Out basis for audited refunds below 5-million kwacha from 2013 to 2019.
He said in a statement to the media that the tax refunds are projected to rekindle microeconomic activity at the local level, push liquidity in the Small and Medium Scale Entrepreneurs.
Mr. Sikalinda said the Authority will continue working closely with the stakeholders to ensure the backlog is liquidated and businesses continue operating in a thriving environment.
He said as announced last month, the Authority will continue implementing a more business-oriented, transparent, and predictable refund mechanism that will stimulate the growth of the business sector.
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