TOURISM Council of Zambia (TCZ) Chairman Yousuf Zumla says it is ridiculous for the Zambia Revenue Authority (ZRA) not to extend the deadline for imposition of penalties for non-use of Smart Invoice. On Monday, ZRA Commissioner General Dingani Banda announced that the authority would not extend the September 30, 2024 deadline for imposition of penalties for non-use of Smart Invoice. “A grace period on enforcement of penalties and sanctions for non-use of the Smart Invoice by all Value Added Tax (VAT) registered taxpayers was effected from 1st July, 2024 to 30th September, 2024. Furthermore, effective 1st January 2025, input tax deductions for VAT will be restricted to transactions from invoices issued through the Smart Invoice system except for approved invoices...