Economist Dr. Lubinda Haabazoka has urged the Zambia Revenue Authority (ZRA) to improve and boost their tax base, be transparent, address untapped sectors, ensure that mining taxation is enhanced, stating that this is the only source of revenue that can boost Zambia’s economy.
Dr. Haabazoka observes that ZRA should invest more in technology, modernise its tax administration to seal all loopholes, adding that an efficient and modernised tax administration system presents one way of improving taxpayer compliance which in turn increases tax capacity.
He says there is need to broaden the tax base by providing incentives to support the formalisation of the informal sectors to stimulate growth and job creation.
Dr. Haabazoka states that economic diversification of key sectors such as energy, mining, agriculture, tourism, and manufacturing industries creates a sustainable cycle of economic activities thereby increasing prospects for employment and growth.
He further says economic diversification is also a positive objective in sustaining economic growth as it will enable the country to be less vulnerable to adverse terms of shocks by stabilising export revenue and exploring opportunities for increased tax revenue.
