ZRA Chief Welcomes President Lungu’s position on empowering Zambian clearing companies
Zambia Revenue Authority Commissioner General Kingsley Chanda has welcomed President Lungu’s position on empowering clearing companies owned and run by Zambians.
Mr. Chanda has immediately presented a proposal to the Ministry of Finance on legally available options to empower Zambians in the industry.
Currently, there are 821 registered and licensed clearing companies in Zambia with over 80% of the business being done by foreign multinational clearing companies including those owned by foreign companies through Zambian proxies.
The proposed measures to government include but not limited to compelling all Government institutions to clear all goods using indigenous Zambian owned companies and private companies to give a minimum of 20% of their volumes to Zambian owned clearing companies.
The Commissioner-General has urged local clearing companies to desist from smuggling activities so that they consolidate the support, trust, and confidence of the Authority.
Mr. Chanda has also encouraged local clearing companies to form one Association so that they have a strong voice and work together.
Currently, local clearing companies belong to three different clearing association. “Such fragmentation is not good and may negate government effort to help them,” The Commissioner General said.
Mr. Chanda said the Authority is optimistic that these measures will not only empower the indigenous clearing companies but also create jobs and boost the economy of our country.
Mr. Chanda has immediately presented a proposal to the Ministry of Finance on legally available options to empower Zambians in the industry.
Currently, there are 821 registered and licensed clearing companies in Zambia with over 80% of the business being done by foreign multinational clearing companies including those owned by foreign companies through Zambian proxies.
The proposed measures to government include but not limited to compelling all Government institutions to clear all goods using indigenous Zambian owned companies and private companies to give a minimum of 20% of their volumes to Zambian owned clearing companies.
The Commissioner-General has urged local clearing companies to desist from smuggling activities so that they consolidate the support, trust, and confidence of the Authority.
Mr. Chanda has also encouraged local clearing companies to form one Association so that they have a strong voice and work together.
Currently, local clearing companies belong to three different clearing association. “Such fragmentation is not good and may negate government effort to help them,” The Commissioner General said.
Mr. Chanda said the Authority is optimistic that these measures will not only empower the indigenous clearing companies but also create jobs and boost the economy of our country.