(DAILY MAIL) NMC urges ZRA to curb tax offences
NMC urges ZRA to curb tax offencesBy NANCY MWAPE
NATIONAL Milling Corporation (NMC) has called on the Zambia Revenue Authority (ZRA) to ensure that companies were tax compliance in order to grow the economy.
NMC managing director, Peter Cottan said tracing of companies defaulting on Value Added Tax (VAT) was easy to stop if ZRA could conduct an audit trail through the value chain of the products.
“Example, if a miller wants to break VAT chain, they can agree to buy wheat from the farmer at cash and no invoicing done. This way Government is losing out on revenue that should be targeted at social services,” he said.
In an interview in Lusaka Mr Cottan said it was saddening that most ZRA officials were being corrupted by the companies that are supposed to pay tax. Mr Cottan said a number of companies were defaulting tax especially VAT.
“There is need to level the playing field so that companies competed favourable on the market. ZRA should be pro-active, go after non-compliant companies to broaden the tax base,” he said.
Labels: NMC, PETER COTTAN, VAT
posted by MrK @ 5:38 PM
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