Zambia Revenue Authority

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Presentation transcript:

Zambia Revenue Authority PRESENTATION TO STUDENTS AT UNILUS By CHILANGWA STEVEN & MUNJELI JACOB 05/09/2014

Outline Why outreach Programme ZRA overview Responsibilities Taxes administered in general Taxes administered in detail The End

Mission statement for ZRA “To optimise and sustain revenue collection through integrated, efficient, cost effective and transparent systems, professionally managed to meet the expectations of all stakeholders.”

Vision “To be a world class organisation recognized as a beacon of excellence in revenue administration”

OUT REACH PROGRAMME Zambia Revenue Authority appreciates the need to enlighten and empower current and future taxpayers on the importance and benefits of tax in driving the socio-economic development of our beloved country.

OUT REACH PROGRAM The program as a means of informing and educating the public so as to enhance a culture of voluntary compliance.

Objectives outreach program To enable students appreciate the importance and benefits of tax thereby embracing a taxpaying culture To enable students, families themselves with registration process of TPIN and taxes Champion tax compliance whilst advocating against tax evasion Become tax compliance ambassadors’ thus encouraging family and friends to comply. Empower the youth as they are the future implementers and beneficiaries.

Benefits of Tax compliance Tax compliance is a state whereby taxpayers conform to their tax liabilities willingly and honestly. The benefit of tax compliance is the improved collection of taxes which enables the government to provide fundamental services such as education, medical services, improved infrastructure like roads and bridges, rural electrification, youth and women development funds, bursaries, National budgetary expenditure to Zambia’s sovereignty by avoiding overdependence on donor funding who may impose rigid condition.

Effects of Tax Evasion Tax evasion is a situation whereby taxpayers are non-compliant and evade their liabilities. The heavy burden of financing government programs befalls a few honest and compliant citizens. Reduce pace of development due to limited funding, poor living conditions due to lack of amenities and lack of economic free as donors dictate the country’s progress.

What is tax? Compulsory monetary contribution to the state's revenue, assessed and imposed by a government on the activities, enjoyment, expenditure, income, occupation, privilege, property, etc., of individuals and organizations

ZRA MAJOR RESPONSIBILITIES Properly assess and collect taxes and duties at the right time Ensure that all funds collected are properly accounted for and banked Properly enforce other relevant statutory provisions Provide statistical information on revenue to Government Give advice to Government on aspects of tax policy

Taxes administered in general. Tax Types Administered Value Added Tax Surtax Customs duty Excise Duty Income Tax Property Transfer Tax Mineral Royalty Medical Levy Collection of Motor Vehicle Registration Fees

Taxes administered in general cont. Under Income Tax are the following taxes: Company Tax PAYE Withholding Tax Self employed Individual’s Tax Presumptive Taxes

DIRECT TAXES. Company Tax Taxation on adjusted net company profits. This is at 35% but 10% on farming income and non-traditional exports income and 33% for LUSE listed companies. For companies engaged in mining operations, the rate is determined by the variable profit tax rate, but the minimum rate is 30%.

Direct Taxes cont. Individual Tax Taxation on net profits of sole traders and partnerships. First K3000 @ 0% Next K 800 @ 25% Next K2,100 @ 30% Balance Over K5,900 @ 35%

PROPERTY TRANSFER TAX Taxation of proceeds from sale of land, buildings, and shares. The rate is 10% of selling price.

MINERAL ROYALTY Taxation of mining license holders at 6% for all mining companies.

Presumptive Tax Passenger transport: Charge depends on the number of passengers Turnover Tax: Applicable to small businesses whose turnover is below K800,000 p.a Rate is 3%

CUSTOMS SERVICES Customs Duty Tax levied on all goods imported into the country. Customs duty rates vary from 0%, 5%, 15% and 25% depending on the nature of goods. Duties are based on the CIF (cost, insurance and freight) value.

Customs Services cont Excise Duty : Taxation on a range of selected products whether produced locally or imported. Following items attract excise duty. Electricity 3% Domestic Kerosene 15% Other light oils 15% Petrol 30% Make-up 20% Perfumes 20%

Excise Duty continued Whiskies 60% Opaque beer KR 0.145 /Lt Clear beer 40% Ethyl alcohol (spirits) 60% Wine 60% Talk time 10%

Excise Duty Salon Cars/Station Wagons (less than 1500cc) 20% (1500cc & above) 30% Buses (less16 sitting capacity) 25% Pick ups/Light Trucks (less than 20 tones) 10%

Surtax Carbon Emission Surtax Annual charge on emissions from motor vehicles. Rates range between KR50 and KR200 depending on the engine capacity of the motor vehicle

Import VAT This is value added tax charged on all imported goods according to the applicable domestic rate of Standard rate (16%), Zero rate (0%) or exempt.

Domestic VAT Taxation on every value added to a taxable service or product. The tax is borne by the consumer. For VAT purposes, sale or disposal of goods or rendering of services is called supplies.

Domestic VAT cont. Taxable supplies are taxed at either 16% (standard rate) or 0% (zero-rated). Zero-rated supplies include Exports, Energy Saving appliances, Equipment and machinery, medical supplies and school books. Exempt supplies are items specifically excluded by law from liability to VAT, (i.e., no VAT is charged) even if supplied by a registered business.

End of presentation.

Questions !!!

For more information visit the website: www.zra.org.zm Or call us on Landline 381111, Airtel 097128111, Airtel and CellZ short code 5972 You can also email us on advice@zra.org.zm 17/01/2019 29