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Zambia tax agency waives payment of interest, penalties on tax defaulters

Xinhua, April 24, 2017 Adjust font size:

Zambia's tax agency on Monday announced an amnesty on interest and penalties for defaulters with a view to increase tax compliance.

The amnesty, which runs from April 24 to July 31, gives tax defaulters an opportunity to settle the principal amounts owed without paying interest and penalties.

Zambia Revenue Authority (ZRA) commissioner-general Kingsley Chanda said the amnesty means that all those owing have been given a 100-percent waiver on interest and penalties owed for three months.

The tax agency has also allowed taxpayers to pay in installments.

According to the chief tax collector, the amnesty comes after the tax agency realized that some firms, especially suppliers and contractors, were still owed huge sums of money by the government.

The amnesty will not apply to cases under litigation and under investigations. Endit