The Zambia Revenue Authority and the Zambia institute of chartered accountants ZICA has signed a memorandum of understanding for collaboration on tax and other matters of mutual interest.
Speaking during the signing ceremony ZRA Commissioner General Dingani Banda said that the MOU symbolizes the commitment that both ZRA, ZICA and the general membership of ZICA have undertaken in partnering on matters of public interest as it relates to tax administration in Zambia.
Mr. Banda expressed confidence that through a strengthened ZICA-ZRA relationship, they will be able to keep the accounting and finance fraternity regulary updated on new developments in the tax landscape as the authority strives to improve its operations in line with the ZRA 2022-2024 corporate strategic plan (CSP).
He noted that through such a relationship, ZRA aims to make ZICA and its general membership their number one ambassador in the prevention of various tax evasion schemes and in influencing voluntary tax compliance among the business community.
And ZICA Chief Executive Officer Anthony Bwembya said that the partnership will enable the organizations to align their efforts, minimize duplication, and optimize the utilization of resources.
Mr. Bwembya noted that by working together, they can achieve greater harmonization and coordination on matters such as complaints against accountants, information on quality assurance for audit firms, assurance services to the public and complaints related to consumer taxation.
He further stated that the partnership will contribute to a more competent and capable workforce, ensuring the effective collection of revenue and the efficient administration of fiscal policies.
The CEO added that interactions with the authority are not new and both institutions enjoy long standing mutual interactions.
