The government says it has prioritised capacitation of the Zimbabwe Revenue Authority (ZIMRA) to detect transfer pricing and to deal with illicit financial flows.
Government says it is pleased with the impact of the ongoing automation of ZIMRA systems and is working on strengthening the authority’s capacity to tackle illicit financial outflows.
Finance and Economic Development Minister Cde Patrick Chinamasa has highlighted that the implementation of the automation and revenue enhancement measures are beginning to yield positive results with the authority having met its revenue target for the first two months this year.
Working with the African Tax Administration Forum (ATAF) and the Eastern and Southern Africa Money Laundering Group the country is hopeful of creating the relevant expertise to fight illicit activities.
As part of the broader efforts to curb leakages and to enhance tax collection efficiency, the Ministry of Finance is also working on the fiscalisation of the value added tax systems, introduction of the cargo tracking system and installation of closed circuit television at the border posts.