Zimra lauded for being resolute and revenue collection focused

Finance, Economic Development and Investment Promotion Deputy Minister, David Mnangagwa, has commended the Zimbabwe Revenue Authority (ZIMRA) for committing to the basic principles of transparency and commitment to revenue collection amid challenges like high informalisation of the economy.

Widening the tax base has been a thorny issue for the authority in the face of a booming informal sector, that usually shies away from formalisation and tax contributions.

Speaking at the Authority’s 7th annual general meeting (AGM) in the capital, Mnangagwa who was the guest of honour, acknowledged the role ZIMRA plays in helping build the economy.

With the responsibility of tax collection, it becomes imperative to maintain transparency standards.

This comes as allegations of rampant corruption at the Authority are not new, especially at the country’s ports of entry, short-changing the economy through smuggling of goods.

Mnangagwa highlighted the importance of the AGM, stating it allows ZIMRA to “engage with its stakeholders and report on its operations,” adhering to best practices in corporate governance.

World over, businesses hold AGMs as they foster stakeholder engagement, transparency and accountability, compliance with legal requirements, enhancing investor confidence, sharing information and feedback, compliance with shareholder rights and evaluation of corporate performance.

In terms of performance, he acknowledged ZIMRA’s progress in achieving its goals for 2023, particularly the implementation of the new Tax Revenue Management System (TaRMS).

TaRMS was introduced as a response to several key challenges taxpayers have faced, including difficulties in filing returns, a lack of data integrity and cumbersome processes for tax payments and refunds.

Designed to foster voluntary compliance and make tax management more straightforward for the public, the system encompasses functions such as taxpayer registration, tax returns processing, tax payments, and debt management.

“One of the key milestones achieved in 2023 was the implementation of the new Tax Revenue Management System (TaRMS), which replaced the previous system whose shortcomings had become a major pain point for taxpayers,” said the Deputy Treasury boss.

“I take this opportunity to urge the taxpayer and all other critical stakeholders to embrace and support the new system for the realisation of maximum benefits.

“TaRMS will also integrate with other critical systems for improved and integrated information exchange and management in tax administration. This is in line with the whole-of-government approach,” he added.

The speech also acknowledged ZIMRA’s efforts to improve service delivery and ease of doing business through initiatives like the Fiscalised Device Management System (FDMS), Zimbabwe Electronic Single Window (ZeSW), and the Contact Centre.

This comes as the Authority has already made investments in technology, including scanners and drones for enhancing border control and cargo monitoring.

ZIMRA has of late been modernising infrastructure carrying out developments at border posts and the Deputy Minister cited the refurbishment of the Beitbridge as an example of the commendable efforts by the authority.-ebusinessweekly