Starting from July 1, 2024, all VAT-registered taxpayers in Zambia must use the Smart Invoice software solution implemented by the Zambian Revenue Authority (ZRA) to issue electronic invoices. Taxpayers can only claim input VAT or deductions based on invoices generated within this new system. Smart Invoice is a software-based solution designed to manage all invoices and inventory data, and it will cover various types of taxes and levies. Taxpayers must register with Smart Invoice, obtain validation from the ZRA, and download the Virtual Sales Data Controller (VSCD) communication module to send or receive transaction data to and from the Smart Invoice server. The ZRA will validate electronic documents using a unique identifier code (Mark ID) and a QR code.
Source Edicom
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
Latest Posts in "Zambia"
- Zambia Revenue Authority Considers Future Abolishment of Withholding VAT After Current Suspension
- Zambia Revenue Authority Suspends Withholding VAT Due to Successful Smart Invoice System Implementation
- Zambia Revenue Authority Investigates Over 320 VAT Fraud Cases Worth K5 Billion
- Simplifying VAT for Digital Services: Impact of Zambia’s Cross Border Electronic Services Regulations
- ZRA grants a 3-month grace period for VAT Smart Invoice System integration
