Over 19,000 Taxpayers Register on Smart Invoice, as ZRA Maintains September 30 Deadline
Zambia Revenue Authority (ZRA) has disclosed that over 19,000 taxpayers have registered on the Smart Invoice System, as at 27th September 2024, with a total invoice value of K53.1 billion.
Speaking during the post 2025 Budget Symposium in Lusaka, ZRA Commissioner General, Dingani Banda revealed that the Authority will not extend the deadline on enforcement of penalties and sanctions for non-use of the Smart Invoice by all Value Added Tax (VAT) taxpayers which was effected from 1st July, 2024 to today 30th September, 2024.
Mr. Banda revealed that there was an increase in both VAT and Turnover Tax registrations in June 2024, due to the 1st July, 2024 deadline, but that the Authority observed a sharp decline thereafter, owing to announcement of the Grace Period.
“We see the registrations picking up in September 2024 due to the 1st October commencement of imposition of penalties.”
“ZRA will continue to provide on-going support to taxpayers to be compliant on Smart Invoice,” Mr. Banda stated.
He emphasized that effective 1st January 2025, input tax deductions for VAT will be restricted to transactions from invoices issued through the Smart Invoice system except for approved invoices from taxpayers exempted by the Act.
The electronic invoicing system, which was officially launched by Finance and National Planning Minister, Situmbeko Musokotwane, on 19th March, 2024, aims to improve tax administration and combat revenue leaks.
Meanwhile, Mr. Banda said ZRA’s revenue collection target has nominally increased by an annual average of 21.3% from K58.7 billion in 2020 to K155.7 billion in 2025, adding that the largest increase was 54.5% in 2022.
“The share of ZRA revenue contribution to national budget has progressively increased from 55.7% in 2020 to 71.7% in 2025,” he said.
