- Zambia is planning to implement electronic invoicing to tackle VAT fraud.
- The aim is to prevent fraud through fake input invoices and only allow registered businesses to reclaim VAT.
- The measure is included in the 2024 Budget and needs to be reviewed and approved by the National Assembly.
- The implementation date is set for 1 January 2024, but technical specifications are not yet available.
- The Zambia Revenue Authority has already implemented the Tax Invoice Management System through Electronic Fiscal Devices, making it mandatory for taxpayers to use an EFD to capture all business transactions.
Source: vatcalc.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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