ZRA explains challenges with VAT refunds

ZAMBIA Revenue Authority Commissioner General Dingani Banda says the coming in of withholding VAT will help in reducing challenges faced with VAT refunds. Speaking during the 2022 budget symposium on the Copperbelt, Saturday, Banda said some suppliers had been taken off the withholding VAT list to accommodate only those who were complying with the process. “On the withholding aspect, I think we need also to take a step back and look at what was the situation before the withholding came into place. I think from the tax administration side, part of the challenges were that businesses for example would supply to the mines, invoice the mines with VAT, they are paid with VAT and then the mine also makes a…...