Zimbabwe Revenue Authority

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The Zimbabwe Revenue Authority, or ZIMRA, is the body responsible for collecting taxes and other revenue streams for the government in Zimbabwe. It derives its mandate from the Revenue Authority Act, passed by the parliament of Zimbabwe in 2002 and other related legislation.

Zimbabwe republic in southern Africa

Zimbabwe, officially the Republic of Zimbabwe, is a landlocked country located in southern Africa, between the Zambezi and Limpopo Rivers, bordered by South Africa, Botswana, Zambia and Mozambique. The capital and largest city is Harare. A country of roughly 16 million people, Zimbabwe has 16 official languages, with English, Shona, and Ndebele the most commonly used.

Parliament of Zimbabwe

The Parliament of Zimbabwe consists of two chambers:

Contents


Revenue collection

ZIMRA is responsible for assessing, collecting and accounting for revenue through the Ministry of Finance as specified by the Revenue Authority Act. [1] The revenues and taxes administered by ZIMRA include: [2]

The Ministry of Finance is a government ministry, responsible for the economy of Zimbabwe. The incumbent Finance Minister is Patrick Chinamasa, while the Deputy Minister is Terence Mukupe. The Ministry of Finance oversees the Reserve Bank of Zimbabwe and the Zimbabwe National Revenue Authority.

A tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund various public expenditures. A failure to pay, along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labour equivalent.

A capital gains tax (CGT) is a tax on capital gains, the profit realized on the sale of a non-inventory asset that was greater than the amount realized on the sale. The most common capital gains are realized from the sale of stocks, bonds, precious metals, and property. Not all countries implement a capital gains tax and most have different rates of taxation for individuals and corporations.

Carbon tax tax on the carbon content of fuels

A carbon tax is a tax levied on the carbon content of fuels. It is a form of carbon pricing. Carbon is present in every hydrocarbon fuel and converted to carbon dioxide and other products when combusted. In contrast, non-combustion energy sources—wind, solar, geothermal, hydropower, and nuclear—do not convert hydrocarbons to CO
2.

Road pricing direct charges levied for the use of roads, including road tolls, distance or time based fees, congestion charges and charges designed to discourage use of certain classes of vehicle, fuel sources or more polluting vehicles

Road pricing are direct charges levied for the use of roads, including road tolls, distance or time based fees, congestion charges and charges designed to discourage use of certain classes of vehicle, fuel sources or more polluting vehicles. These charges may be used primarily for revenue generation, usually for road infrastructure financing, or as a transportation demand management tool to reduce peak hour travel and the associated traffic congestion or other social and environmental negative externalities associated with road travel such as air pollution, greenhouse gas emissions, visual intrusion, noise and road accidents.

Trade regulation

As part of its role in customs regulation, the authority monitors trade and all traffic through borders crossings, airports, and seaports. ZIMRA is tasked to reduce smuggling and illegal trade. The authority regulations on imports, exports and foreign exchange controls. As part of this duty, the agency regulates human travel. [2]

Customs authority or agency in a country responsible for collecting customs duties and for controlling the flow of goods

“Customs” means the Government Service which is responsible for the administration of Customs law and the collection of duties and taxes and which also has the responsibility for the application of other laws and regulations relating to the importation, exportation, movement or storage of goods.

Smuggling illegal movement of goods or people

Smuggling is the illegal transportation of objects, substances, information or people, such as out of a house or buildings, into a prison, or across an international border, in violation of applicable laws or other regulations.

Foreign exchange controls controls imposed by a government on the purchase/sale of foreign currencies

Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents or on the purchase/sale of local currency by nonresidents.

The agency is responsible for overseeing motor vehicle trade and acts as a port authority, managing aspects of freight loading and unloading. [3]

Advisory

In addition to its role as a collector of taxes and revenue, the agency advises the legislature on enacting new revenue streams. In 2004, the agency spearheaded the introduction of the value added tax in Zimbabwe, replacing the sales tax. The agency in the past has endorsed the presumptive tax and road tolls, as well as new systems like Asycuda World and a self-assessment system of taxation. [2]

A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a governing body directly by a consumer, it is usually called a use tax. Often laws provide for the exemption of certain goods or services from sales and use tax.

Corruption

The agency has been accused high levels of corruption, and many officials have been arrested. [4] [5]

Recent news

Zimra missed its revenue collection target for the second quarter of 2013 by 6%, which the chairman said was down to economic setbacks. [6]

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Excise tax that taxes the consumption of certain goods

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References

  1. ↑ Revenue Authority Act Chapter 23:11. [ permanent dead link ] Zimbabwe Parliament. 2002.
  2. 1 2 3 What Zimra does. Zimbabwe Revenue Authority. 2010.
  3. ↑ Importers Cry Foul As Zimra Moves Car Clearance to Private Firm's Warehouse. AllAfrica.com. The Herald. Thupeyo Muleya. May 5th, 2010.
  4. ↑ Corrupt Zimra officials arrested. The Zimbabwean. July 29th, 2010.
  5. ↑ Zimra has failed nation. Newsday. August 2nd, 2010.
  6. ↑ Zimra Misses Target, Africa: AllAfrica.com, 2013
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