The Commissioner General of the Zambia Revenue Authority (ZRA), Mr. Dingani Banda, led a delegation to attend the Organization for Economic Cooperation and Development (OECD)’s Global Forum on Transparency and Exchange of Information for Tax Purposes and the Africa Initiative meetings in Lisbon, Portugal.
The sessions, held from November 28th to December 1st, 2023, were an essential step in Zambia’s readiness to join the Global Forum.
ZRA’s participation as an observer in the 16th and 14th Plenary meetings for the Global Forum and the Africa Initiative, respectively, came at the invitation of the Global Forum Secretariat. This aligns with Zambia’s commitment to enhancing transparency and cooperation in tax matters on the international stage.
The Global Forum serves as a platform for more than 140 countries to exchange information on entities with business interests in multiple jurisdictions.
Currently, 37 African countries, including Zambia, are members of the Global Forum through the Africa Initiative. Member nations benefit from the OECD’s capacity development programs, enhancing skills for effective revenue mobilization from international taxation.
As outlined in the 2024 National Budget Speech by the Minister of Finance and National Planning, Zambia is set to formally join the Global Forum in 2024.
This strategic move reflects Zambia’s dedication to improving the effectiveness of international taxation and aligning with global standards in the realm of fiscal transparency.
The participation in these global forums positions Zambia to actively contribute to the exchange of information and collaborative efforts aimed at fostering a more transparent and cooperative international tax environment.
This development is anticipated to have positive implications for Zambia’s revenue mobilization efforts and contribute to the country’s broader economic goals.