The Zambia Revenue Authority -ZRA- has exceeded the revenue collection target for the first quarter by One Hundred and Forty Million Kwacha.
ZRA Commissioner General Kingsley Chanda says his team has managed to collect Eight Billion Three Hundred and Seventy-three Million Kwacha surpassing the target of Eight Billion Two Hundred and Thirty-three Million Kwacha.
Mr. Chanda has attributed the increase in revenue collections to measures put in this year’s budget, such as the collection of Value Added Tax – VAT- at source.
And Minister of Finance Felix Mutati says this is a demonstration that ZRA is responding to the government’s call to enhance domestic revenue collection.
The Minister has however urged the Authority to further increase its revenue collections for capital development and also to deal with arrears that are in excess of Ten Million Kwacha.
The two was speaking to journalists in Livingstone yesterday during a media breakfast.
Mr. Mutati said the reduction of the fiscal deficit remains the main focus of his ministry, which he says will be done through enhanced revenue collection and fiscal consolidation.
And Mr. Chanda said Livingstone and Nakonde are the two problematic borders in terms of smuggling, which he attributes to the porosity of the two facilities.