Tax law overhaul looms

Harare Bureau
Government will soon gazette amendments to the Public Accountants and Auditors Act to introduce a law that specifically deals with the tax profession, a senior Government official has said. Finance and Economic Development Minister Patrick Chinamasa said this at an Institute of Certified Tax Accountants graduation ceremony in Harare recently.

Minister Chinamasa said he was pleased that the ICTA has been contributing to tax enunciation through the National Budget. “I, however, understand that one of the challenges that ICTA is facing is the absence of a law that specifically deals with the tax profession, hence the need to amend the Public Accountants and Auditors Act,” he said.

“Cabinet has already addressed these concerns and has approved amendments which will be gazetted soon for tabling in Parliament.”
Minister Chinamasa said Government was working towards finalising amendments to the Income Tax Act.

“Currently the amendments are before Parliament after referral thereto by President Mugabe,” he said.
ICTA president, Dr Tamuka Maziriri, said with the knowledge that they had in tax law, they would work with the Zimbabwe Revenue Authority to alleviate challenges faced by the economy.