THE Zambia Revenue Authority (ZRA) says it has concluded 542 out of the 1,294 cases of suspected illicit financial flows, with tax revenue collections of K39 million since 2022. ZRA Commissioner General Dingani Banda identified the main channels of illegal financial outflows as tax evasion, illegal mining, and the use of shell companies with little or no commercial activity. Speaking at a press briefing, Friday, Banda said effective January 1, 2026, the amendment of the Business Names Act, which will provide for the disclosure of beneficial ownership information for all entities registered under the Act will come into effect.
“While Zambia has performed above the African average with a tax-to-GDP ratio of approximately 18.3 percent over the last five years,… Do you agree that child defilers should be castrated?
