Zimra looking to trace and bring back all money which was externalised

Posted by Maveriq

The Zimbabwe Revenue Authority (Zimra) has said that it is looking at bringing back all the money which was externalised outside the country as this is one of the major causes of the liquidity crunch. Presenting the revenue performance report for the first half of 2017, Zimra chairperson, Willia Bonyongwe said:

The RBZ has aptly laid the blame squarely on the high indiscipline of Zimbabweans caused by greed and selfishness. It is on record that Zimbabweans have externalised billions of dollars, ranging from the relatively small bank deposits in neighbouring countries, to millions stashed in tax havens globally.

We have to bring back what is due to Zimbabwe. Last quarter we raised alarm on the upward trend in inflation, which threatens to derail economic revival and export growth.

Unfortunately, nobody took notice and the annual rate of inflation rose to 0,75% as at May 2017, the highest it has been in more than three-and-a-half years (Zimstat) — a rapid increase from -0,65% in January.

More; NewsDay

The Zimbabwe Revenue Authority is a government department which is responsible for the collection of state revenue in form of excise duty, customs duty, road tolls, corporate and civil taxes. In addition, it also facilitates trade, offers fiscal advise to the government as well as civil protection to the public. The department is headquartered in Harare and has a number of outposts bases including the country's border posts such as Sango in Matabeleland, Forbes in Manicaland, Chirundu, and Nyamapanda in Mashonaland east province. Read More

The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides for the Board of Directors and the post of Governor who is responsible for the day-to-day administration and operations of the Bank. The Governor is assisted by two Deputy Governors. Read More

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