UPDATED: Zimra gets new board

Business Editor
FINANCE and Economic Development Minister, Professor Mthuli Ncube, has appointed a new board for the Zimbabwe Revenue Authority (Zimra) chaired by industrialist Mr Calisto Jokonya.

He will be deputised by Mrs Josephine Matambo. Other board members include Treasury secretary Mr George Guvamatanga, Mr Isaac Kwesu, Mr Memory Nguwi and Dr Morris Bekezela Mpofu. The appointments are with effect from 19 December 2018, said Prof Ncube in a statement.

He said the new appointments were done in terms of Section 5 of the Revenue Authority Act (Chapter 23:11) and after consultations with President Emmerson Mnangagwa.

“I am pleased to announce the appointment of the following Zimra board members with effect from 19 December 2018. Mr Calisto Jokonya (chairman), Mrs Josephine Matambo (deputy chair), Mr George Guvamatanga, Mr Isaac Kwesu, Mr Memory Nguwi, Dr Morris Bekezela Mpofu,” said Prof Ncube.

The term of office for the previous Zimra board that was chaired by Mrs Willia Bonyongwe expired on 18 June 2018 but was extended up to October when Prof Ncube dissolved it. The extension of tenure for a period not exceeding six months until a new board is appointed was in line with paragraph (2) (2) of the Fifth Schedule to the Revenue Authority Act (Chapter 23:11).

In its third quarter report, Zimra announced gross collections of $1, 28 billion against a target of $1, 089 billion. Net revenue collections for the period improved by 22, 56 percent from the $967,76 million realised during the third quarter of 2017. Major contributors to the revenue were Excise Duty at 21 percent, Net Value

Added Tax (VAT) on Local Sales at 19 percent and individuals at 18 percent.

Reforming Zimra operations is part of Treasury’s fiscal measures aimed at widening domestic resource mobilisation, reducing the budget deficit, stabilising the economy and restoring investor confidence. Prof Ncube is on record saying having a new Zimra board would assist in improving governance of the tax authority.

Expanding revenue base, tackling internal and external debt, transforming parastatals and addressing external debt, top Treasury priorities as Government moves to address immediate constraints facing the economy.