Zambia Expands Banking Data Cooperation to Support Tax Compliance Reforms
Zambia's tax authority and commercial banks have agreed to deepen cooperation on information sharing and system integration to strengthen tax administration. The discussions come as Zambia rolls out tax reforms that expand the use of financial information to improve compliance without raising tax rates. The move complements broader continental efforts. . .
Zambia's tax authority and commercial banks have agreed to deepen cooperation on information sharing and system integration to strengthen tax administration. The discussions come as Zambia rolls out tax reforms that expand the use of financial information to improve compliance without raising tax rates. The move complements broader continental efforts to strengthen tax transparency through cross-border financial data exchange. The Zambia Revenue Authority (ZRA) and the Bankers Association of Zambia (BAZ) have agreed to deepen cooperation on information sharing and system integration to strengthen tax administration and improve compliance. During a meeting in Lusaka on 22 July 22, ZRA Commissioner General Dingani Banda and BAZ Chairperson Mwindwa Siakalima discussed using banking data to support compliance monitoring and financial investigations. Banda said closer cooperation with financial institutions would help seal revenue leakages and improve tax administration, while Siakalima said stronger integration could enhance the detection of suspicious transactions, including those involving cross-border financial flows. The discussions come as Zambia implements tax administration reforms introduced under the 2026 national budget that make greater use of financial information to improve revenue collection. The measures expanded reporting requirements for international remittances above $2,000, allow unresolved tax debts to be submitted to credit reference bureaus and tightened compliance requirements for businesses seeking customs incentives. Together, the reforms are intended to improve tax compliance by increasing the visibility of financial transactions rather than raising tax rates. The engagement also aligns with wider efforts to modernize tax administration through digital information sharing. Earlier this month, the African Tax Administration Forum (ATAF) announced that it is working with the ZRA and the World Bank to develop an African Automatic Exchange of Information platform that will allow tax authorities to exchange financial information securely while strengthening compliance with international transparency standards. The initiative is expected to improve oversight of cross-border financial transactions and help tax authorities detect undeclared offshore assets and income more effectively. ATAF says its technical assistance programs have generated more than $6 billion in additional tax assessments and $2. 8 billion in revenue collections across African tax administrations since 2016. In 2025 alone, ATAF-supported interventions resulted in nearly $686 million in additional revenue collections, highlighting the increasing role of financial data, digital systems and institutional cooperation in improving tax compliance. By Cynthia Ebot Takang