The Zambia Revenue Authority (ZRA) has cautioned taxpayers against overlooking the 2024 end-of-year tax deadline stating that all business documents including Tax Clearance Certificate (TCC), Trading Licenses and Permits with an expiry date of 31st December, will no longer be valid by 1st January 2025.
The Authority says the caution comes as a reminder to all taxpayers that the 2024 financial year will end on 31st December.
ZRA Corporate Communications Manager, Oliver Nzala, has also reminded all Value Added Tax (VAT) registered suppliers that input tax claims will be restricted to invoices issued from the Smart Invoice system, effective 1st January 2025.
Mr. Nzala however, said tax invoices issued outside the Smart Invoice system up to 31st December 2024 will still be valid for input tax deduction in 2025, if they meet the (90) day validity period and other mandatory features of a tax invoice.
“Importers, Exporters and Clearing Agents with outstanding entries or transactions are also strongly urged to finalize their transactions to avoid any inconvenience,” said Mr. Nzala.
He has further reminded taxpayers to ensure that all outstanding tax returns and payments are settled before or by 31st December 2024 to enable them to qualify for a new Tax Clearance Certificate (TCC) effective 1st January 2025.
Meanwhile, Mr. Nzala said local authorities, will in 2025 also request any individual or business entity applying for or renewing their trading license or permit to present a valid Tax Clearance Certificate.
He has further urged that it is important to meet the deadlines as there are penalties for the late filing of returns and for the late payment of tax.
By Margaret Mwanza
