Serkan Yagli
Jun 11, 2024
Zambia Adopts Smart Invoice for Tax Compliance
Zambia is revolutionizing tax compliance with the introduction of the Smart Invoice system. Starting July 1, 2024, all VAT-registered businesses must adopt this software-based solution, replacing the current Electronic Fiscal Devices (EFDs).
Key Highlights:
Comprehensive Coverage: Applies to VAT, Sales Tax, Rental Income, IPL, Tourist Tax, and Local Electricity Consumption Tax.
Real-Time Data Transmission: Ensures accurate and timely reporting to the Zambia Revenue Authority (ZRA).
Enhanced Features: Provides robust inventory management and seamless integration with existing ERP systems.
Important Steps:
Register and Validate: Ensure your business is registered and validated with the ZRA.
Download VSCD Module: Enable data transmission between your ERP system and the Smart Invoice server.
Stay Compliant: Familiarize yourself with the new invoicing requirements and integrate the necessary software.