PF to close personal bank accounts not linked to ZRA

PF to close personal bank accounts not linked to ZRA

The PF regime says it will by 31st December, 2017 close all personal bank accounts that are not linked to the Zambia Revenue Authority (through the Tax Payer Identification Number (TPIN).

ZRA Corporate Affairs Manager Topsy Sikalinda says it is a requirement by law for every citizen with a bank account to have a TPIN which should be submitted to that same bank for inclusion to their details.

The Zambian Watchdog has maintained that once this process is complete and every bank account is linked to ZRA, the PF regime will start taxing any money deposited or withdrawn from any account including student school fees. Right now they are denying this but this is PF. Remember how they are using the details you supplied when registering your simcard to pry into your private conversations? By the way, are you are ware that due to the fact that your simcard is registered with all your details, some individuals at Zicta, airtel, Mtn and Zamtel do sell your information to anyone who wishes to know who you text or phone?

Now Zambia Revenue Authority says it will freeze all bank accounts that are not linked to it by at within the next five months.

And yes, right now you can not open a bank account in Zambia unless ZRA approves it by granting you TPIN number. The PF is really determined to tax and control every aspect of our lives.  But don’t worry, Zambia shall soon be saved. Signs are becoming clearer by the day.


On February 12, the Watchdog published the following revelations:




Details have emerged that the PF government will be deducting K30 per month from each person who holds a bank account in Zambia. In addition, government will also be imposing and deducting 15% for each transaction; that is, for each deposit or withdrawal whether made using an ATM or at the counter.

Government has already ordered banks to compel all bank holders to register and obtain tax payers numbers from the Zambia Revenue Authority (ZRA).

The government claims that the requirement for account holders to have tax payers’ numbers is just part of ‘Know Your Customer’ (KYC) as required by money laundering laws.

But banks already know their clients as no one can open a bank account without providing the bank with their NRC, passport or driving licence and other requirements such as addresses. And if this just for banks to know their customers, why register with ZRA?

Ministry of finance contacts tell the Watchdog that once all account holders have obtained the tax numbers, the government will start charging tax and that this will be done by June 2017.

According to contacts, the idea to tax account holders is a brain child of MMD’s Felix Mutati who now runs the PF ministry of Finance.

Government sources says Mutati is a heartless tax man who is desperate to please Edgar Lungu by taxing poor people to raise money for paying off Euro bonds and other loans the PF has been borrowing.

Sources say taxing account holders is just one of the methods Mutati has come up against poor people as he has realised that government has no other means of raising money since there is no production in the country.

Below is the statement issued by banks and government institutions:

See the notice below:

Dear Esteemed Client
One of the new measures announced by the Minister of Finance in his presentation of the 2017 budget to Parliament is to make it mandatory for financial institutions registered under the Banking and Financial Services Act to require all bank account holders to obtain a Tax Payer Identification Number (“TPIN”). This pronouncement was followed by the Amendment to the Income Tax Act through the Income Tax (Amendment) Act No. 45 of 2016 which is effective
on 1st January 2017.

Based on the foregoing, each account holder is required to provide the bank with their new or updated TPIN.
TPIN requirement will form part of the banks Know Your Customer (KYC) process on account opening or account information updates.

We would like to urge all account holders without a TPIN to obtain a TPIN by applying to the Zambia Revenue Authority (“ZRA”). The application for TPIN can be submitted online through the ZRA website and you should have your personal TPIN issued within 48 hours.
All account holders are required to submit their TPIN on email to
Below is a detailed step by step process of obtaining a TPIN from ZRA (if you have none) or retrieve your TPIN (if you

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