ZRA Extends Grace Period for Smart Invoice Registration and Integration
The Zambia Revenue Authority (ZRA) has granted a grace period for all Value Added Tax (VAT) taxpayers to register and integrate with the Smart Invoice System. Initially, all VAT-registered taxpayers were required to start issuing electronic invoices by June 30, 2024.
However, ZRA has extended the grace period from July 1, 2024, to October 1, 2024, allowing more time for compliance without penalties.
During this grace period, taxpayers are expected to register and consistently use the Smart Invoice system. They are also encouraged to integrate their accounting systems with the Smart Invoice platform.
Those who have already implemented the system should continue using it consistently, while those who have not yet registered and integrated should continue using their existing invoicing systems.
ZRA will hold a press briefing on Monday, July 8, 2024, at 14:00hrs in Lusaka to provide an update on the Smart Invoice system. The briefing will be broadcast live on ZNBC TV1 and the ZRA Facebook page.
The Smart Invoice system was officially rolled out as the country’s electronic invoicing system by the Minister of Finance and National Planning, Dr. Situmbeko Musokotwane, on March 19, 2024.
Oliver Nzala, Corporate Communications Manager for ZRA, issued the statement emphasizing the importance of taking advantage of the grace period to ensure compliance.
