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31 October 2016

Zambia Revenue Authority migrates from Real Time Gross Settlement payment system to E-payment system

Following a public notice issued by the Zambia Revenue Authority (ZRA) on October 7, the Real Time Gross Settlement (RTGS) payment system will be discontinued and replaced with the Electronic payment system (e-payment) or Electronic Funds Transfer (EFT) for large and medium taxpayers. The migration comes into effect on November 1, and taxpayers need to make adequate preparations to ensure compliance with this ZRA directive. This migration is in line with the Bank of Zambia National Payments System Vision and Strategy 2013-2017.

A Tax Alert prepared by Ernst & Young Zambia, and attached below, provides additional details.

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ATTACHMENT

Full text of Tax Alert 2016-1844

Document ID: 2016-1844

 

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