Zimra Surpasses Revenue Target,Now Monitoring Big Spendors

 The Zimbabwe Revenue Authority (Zimra) has surpassed its revenue target for the first quarter by 6% after gross collections totalled $862,47 million due compliance and support.

This is a major achievement, as the revenue collector had only targeted $826,63 million, but strangely, it has also made a statement  that it will now monitor individuals who are percieved to be big spenders who make outrageously-priced purchases in and outside Zimbabwe under a new tax compliance enforcement strategy.

The surveillance covers bank records, deeds and other title registers that help determine whether targets are paying taxes.Zimra introduced the lifestyle audit in 2016, largely focusing on individuals who have publicly declared their properties and wealth.

The audit now encompasses “everyone, even a person who buys an expensive watch”, and each individual is being asked to explain his/her tax-vs-income position. In an interview with The Sunday Mail last week, Zimra board chairperson Mrs Willia Bonyongwe said monitoring would continue over a sustained period.

 

Zimra board chairperson Willia Bonyongwe

Zimra board chairperson Willia Bonyongwe

 

In a statement on Friday that thanked Zimbabweans for cooperating, Zimra said: “Gross revenue collections for the first quarter amounted to $862,47 million and were 6% above target. Net collections after refunds were 2% above target and amounted to $826,63 million.”

 

“Once again, thank you Zimbabwe for demonstrating patriotism through voluntarily paying taxes, customs duties and exercise duties.
Zimra is also pleased that measures to enhance operational efficiency and effectiveness, to boost revenue collections, and to safeguard revenue are bearing fruits,” it said.

In 2016, Zimra missed its targets after collecting $3,462 billion against a target of $3,607 billion. Net collections amounted to $3,248 billion

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