Robust interventions spur revenue generation

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ZIMRA Board Chairperson, Mrs Willia Bonyongwe, has attributed surpassing of revenue targets to robust interventions aimed at plugging loopholes and enhancing operational efficiency. She said this while responding to a question on why ZIMRA has been meeting revenue targets in spite of signs pointing to a shrinking economy.

Mrs Bonyongwe was one of the main presenters at the KPMG Tax and Business Seminar for 2017, which was held at a local hotel on 14 September 2017. The seminar gave the Board Chairperson an opportunity to appraise tax consultants on areas of risk pertinent to the operations of ZIMRA, chief among them being the issue of transfer pricing.

 

“Base Erosion and Profit Shifting poses a very significant risk to the tax base of African countries and, thus, militates against the continent’s domestic resource mobilisation programmes.

 

“For this reason, BEPS is a major cause of concern for us as ZIMRA as it erodes the tax base in that income which is supposed to be taxed in Zimbabwe,” said the ZIMRA Board Chairperson.

 

Mrs Bonyongwe thanked KPMG for coming up with seminars of this nature, since they afforded stakeholders an opportunity to discuss issues of mutual interest to them. She indicated that ZIMRA values platforms such as the seminar as they enable the Authority to interact with its valued clients to discuss and explore ways of inculcating a culture of voluntary tax compliance in Zimbabwe.

 

The presentation by the Board Chairperson was followed by a question and answer session, where a number of sticky issues relating to administrative challenges, turnaround time for the refund system, VAT and Value Added Withholding Tax, audits and investigations, tax disputes as well as the interface between ZIMRA and its clients were thrashed.

 

 
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