- Zambia’s 2024 budget plans to implement an electronic invoicing system to monitor transactions in real-time and reduce the amount of fictitious invoices, ultimately reducing the VAT gap.
- The new system will replace the current Tax Invoice Management System and Electronic Fiscal Devices.
- Taxpayers will only be able to claim input VAT or deductions based on invoices issued through the new system.
- The changes will take effect in January 2024, and the tax authority is expected to provide guidelines to help taxpayers comply with the new requirements.
Source
Click on the logo to visit the website
Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
Latest Posts in "Zambia"
- Turnover Tax or VAT: Choosing the Best Tax Regime for Zambian SMEs
- Zambia’s 2026 Budget: VAT Relief on Water, Support for Small Businesses, and Investment Incentives
- Zambia Introduces 10% Excise Duty on Gaming and Betting from September 2025
- Zambia’s 2026 Budget: Tax Amendments, VAT Refunds for Energy, and Increased Customs Duties
- 2026 Budget: Increase in Customs and Excise Duty Rates Announced
