Minister of Finance And National Planning Situmbeko Musokotwane says revenue collection, plays a significant role in government’s development agenda.
Dr. Musokotwane was speaking during the official launch of the smart invoice initiative, an innovative tool that will transform the country’s tax administration system, increase Zambia’s domestic revenue collection and enhance the nation’s economic growth.
He said the smart invoice system is a significant milestone in Zambia’s efforts to modernize tax administration and increase revenue collection.
“The smart invoice system was forged through a south-to-south cooperation between the government of the republic of Zambia and the government of the republic of Rwanda,” said Dr. Musokotwane.
Dr. Musokotwane said the smart invoice system is a groundbreaking initiative, that not only modernizes tax administration but also significantly increases revenue collection.
He said with the implementation of the smart invoice, he expects ZRA to close the tax gap, and excel to the heights reached by other countries such as South Africa and Rwanda, where VAT revenue contribute over 30 percent of tax revenue.
By Bibiana Lambart
