The Zambian government is implementing electronic invoicing through a system called Smart Invoice. This will replace the current Electronic Fiscal Devices (EFDs).
What is Smart Invoice?
Smart Invoice is a software-based system for managing invoices and stock data. It transmits this data directly to the Zambia Revenue Authority (ZRA) in real-time. Smart Invoice offers several benefits, including:
- Reduced tax evasion
- Improved compliance
- Cost savings
- Faster invoice processing
- More accurate financial data
Who Needs to Use Smart Invoice?
All taxpayers registered for Value Added Tax (VAT), Turnover Tax, Rental Income, and other specified taxes will need to use Smart Invoice.
How to Use Smart Invoice:
The ZRA offers various free options for using Smart Invoice, including:
- Mobile App
- Online Invoicing Platform
- Desktop Application
Taxpayers with existing accounting software can integrate it with Smart Invoice (potentially at a cost).
Important Dates:
- Smart Invoice is currently in a pilot phase.
- Full rollout is expected after the pilot is complete.
- Specific dates for full rollout and penalties for non-compliance are not mentioned in the provided text.
Source: zra.org.zm
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
