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Vat guidezra VAT GUIDE FOREWORD Every country in the world needs revenue to provide health education social services roads and a wide range of other facilities for all its citizens One of the ways Government mobilizes revenue is through taxation and one s

VAT GUIDE FOREWORD Every country in the world needs revenue to provide health education social services roads and a wide range of other facilities for all its citizens One of the ways Government mobilizes revenue is through taxation and one such tax is a consumption tax called Value Added Tax VAT VAT is an indirect tax which was introduced in Zambia on st July to replace sales tax The advantages of VAT for businesses can be summarized as follows VAT is largely invoice based and therefore uniform and uncomplicated o ?ering a sound ?nancial management system with less collection weaknesses As a result of increased tax compliance brought about by the ? self-policing ? nature of VAT there is less distortion of trade VAT gives the potential for a stronger home manufacturing industry and more competitive export prices The input credit mechanism gives registered businesses back much of the tax they pay on purchases and expenses used for making taxable supplies It is a fairer tax than most General Sales Tax largely because it avoids the ? tax on tax ? characteristic of most indirect taxes A wider tax base has resulted in less distortion of trade and a greater sharing across all sectors of the business community of the costs of collecting indirect taxes and remitting them to the Government VAT in Zambia is administered under the Domestic Taxes Division of Zambia Revenue Authority ZRA The primary Law relating to VAT is contained in the Value Added Tax Act Chapter of the Laws of Zambia The subsidiary legislation comprises General Regulations made by the Minister through Statutory Instruments and Administrative Rules made by the Commissioner General through Gazette Notices The purpose of this booklet is to provide general guidance and it does not replace or amend the law Further the guidance is not exhaustive and does not therefore a ?ect any person ? s right of appeal on any point concerning their liability to tax nor does it preclude any discretionary treatment which may be allowed under the Act KINGSLEY CHANDA COMMISSIONER-GENERAL CONTENTS PART Explanation of Value Added Tax VAT The Mechanisms of VAT VAT Computation Supplies for VAT Purposes Liability to VAT Taxable Exempt Supplies Taxable Supplier Taxable Supplies Examples of Taxable Supplies Exempt and zero-rated supplies Di ?erence between Zero-rated and exempt supplies Imported goods Export of goods Place of supply Place of supply of goods Place of supply of services Reverse Charge on services supplied to registered suppliers in Zambia by non- resident suppliers Tax point -the time when taxable supplies are made Tax points for particular transactions Taxable Value Minimum Taxable Values PART Registration for VAT- Registration Rules Businesses making only Zero-rated supplies Waiver of registration Supplies to take into account when calculating taxable turnover E ?ective Date of Registration EDR Late Registration penalties Reclaiming of VAT prior to Registration Intending traders The obligations of a VAT registered supplier Entities to be registered for VAT Businesses with branches Group Registration Special Rules relating To Government