Business Headlines

ZRA E-payment earns K30m in 14 days

ESTHER MSETEKA, Lusaka
ZAMBIA Revenue Authority (ZRA) has collection over K30 million in taxes through a single institution in the last two weeks, thanks to an innovative payment system being piloted through the banks.
ZRA collected K36 million in domestic taxes within two weeks through Standard Chartered Bank Zambia, using the improved E-payment system.
The ZRA E-payment system is a simple, flexible, secure and faster service that allows taxpayers to make payment to Government through the bank using internet.
To this effect, Standard Chartered Bank and the ZRA have entered in a partnership to implement the payment system known as straight2bank (S2B) electronic tax.
ZRA’s partnership with Standard Chartered brings the total number of banks offering E-payment for ASYCUDA World to 12 and eight for tax-on-line.
Speaking during the signing ceremony on Wednesday, Standard Chartered Bank chief executive officer Andrew Okai said the financial institution has worked closely with ZRA’s automated system for customs data (ASYCUDA) World system for customs taxes and the tax-on-line for domestic taxes, which has been integrated in the banks’ S2B system.
“With this integration, our clients are now able to pay both domestic and customs taxes through the same portal used for all other online payment types. It also provides an additional avenue that simplifies the tax payment process and enhances the experience of the tax-payer.
“I am delighted to report that just [after] successful piloting of our domestic tax offering, we have facilitated the tax payment of more than K36 million,” he said.
At the same occasion, ZRA commissioner general Berlin Msiska said the authority has set an objective to engage with banks and mobile payment providers to connect and interface tax-on-line and ASYCUDA World system to ensure that 90 percent of tax transactions are captured electronically.
Mr Msiska is optimistic that the measure will enhance efficiency in the payment process for taxes and further mitigate malpractices which are perpetuated in convectional payment methods such as cash and cheques.
“ZRA has accelerated the implementation of its modernisation programme whose strategic focus is in tandem with the mission statement to optimise and sustain revenue collection through integrated, efficient, cost effective and transparent systems among others to meet the expectations of stakeholders.” he said.

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