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THE Zambia Revenue Authority (ZRA) recorded an overall surplus of KR313.9 million (K313.9 billion) in tax revenue collected at eleven stations across the country.
This is after collecting KR18.9 billion (K18.93 trillion) against a target of KR18.6 billion (K18.62 trillion) during the financial year ended December 31, 2011.
However, a deficit of KR494.9 million (K494,970,300,550) was recorded in respect of some taxes during the period under review.
This is according to the Auditor General’s report on the accounts for the financial year ended December 31, 2011.
The report says an examination of accounting and other records were maintained at ZRA headquarters, Nakonde, Kasumbalesa, Ndola Direct Tax, Kapiri Mposhi Customs, Livingstone Direct Tax, Kazungula, Chipata Direct Tax, Mwami, Chanida and Chirundu.
The report also says out of a total of KR1.76 billion (K1,764,170,000,000) collected as mining tax arrears (windfall tax arrears), of KR1.6 billion ( K1,679,608,978,408) was traced to the bank statements.
This left a balance of KR84.5 million (K84,561,021,592) unaccounted for, as of November 2012.
Similarly, out of KR692 million (K692,873,015,784) collected as mineral royalty tax, only KR247.8 million (K247,812,078,937) was traced to the bank statements leaving a balance of KR 445.1 million (K445,060,936,847) unaccounted for, as of November 2012.
In 2012, the office carried out 178 audits on the accounts for the financial year ended December 31, 2011, out of which 93 were cleared.
