Zambia has signed an agreement with Rwanda, cementing a significant partnership that builds upon the celebrated and fruitful cooperation ties between the two countries.
In announcing the Memorandum of Understanding (MoU), Technology and Science Minister, Felix Mutati, said it was set to enhance tax compliance.
Mutati said this would be implemented through innovative tax administrative intervention system that harnessed the power of technology.
He said the primary goal of the agreement was to transform the platform into an effective and precise operational model.
Expanding on the electronic tax invoicing technology system, Mutati explained that government had already implemented a system that would enable the Zambia Revenue Authority (ZRA) to operate with real-time access to a digital business transaction platform.
He said this would mark a substantial advancement in modernizing the tax administration system.
“The electronic invoicing introduces an effective approach to prevent the use of fake invoices in Value Added Tax refund claims and offers assurance to eligible entities seeking deductions,” Mutati said.
He highlighted the significant benefits of the system, including securing transactions, preventing fraudulent practices, and streamlining tax-related processes.
The Minister expressed his belief that the project exemplified the impactful outcomes of joint efforts and potential co-operation between the two nations, serving as inspiration for future collaborative projects.
“The signed MoU is a critical step towards formalizing and expanding collaboration and fostering cooperation in various essential areas, including digital transformation, innovation, emerging technologies, cybersecurity, data sharing, skills development, and capacity building,” he stated.
He emphasized that this partnership would serve as the foundation for numerous projects that would drive the economies of both nations forward.
Mutati stated that the MoU would remain a symbol of shared values and objectives, inspiring continued partnership for the prosperity and progress of the people of Zambia and Rwanda.
Contributed by Emmanuel Lungu
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