The Zambia Revenue Authority (ZRA) has revealed that a mere six out of 6,000 licensed mining companies in the country have been tax compliant in recent times.
This shocking statistic was disclosed by ZRA Commissioner General Dingani Banda during a presentation at the Economic Association of Zambia (EAZ) summit.
Banda attributed the low tax compliance rate to serious financial flaws in the mining sector, which require a concerted effort to address.
He acknowledged that ZRA has faced internal challenges in dealing with these flaws but assured that various strategies are being implemented to tackle tax evasion and illicit financial flows in the sector.
>The revelation highlights the significant revenue losses faced by the Zambian government due to tax non-compliance in the mining industry.
The ZRA’s efforts to address these challenges are crucial in ensuring that mining companies contribute their fair share to the country’s revenue.
