ZIMRA’s new strategic plan targets $7.2 billion revenue in 2020

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By Alois Vinga

THE Zimbabwe Revenue Authority’s (ZIMRA) new strategic plan has proposed several strategies to broaden the tax base in a development that will see the tax collector harvest close to $7.2 billion by year 2020.

The new strategy will be implemented from 2019 to 2023.

ZIMRA has so far collected $4.7 billion and in 2019, the authority expects to rake in $6.2 billion which it aims to increase by a further $1 billion in 2020.

ZIMRA Commissioner-General, Faith Mazani told journalists at a media briefing that the set targets will be realised through the implementation of a cocktail of measures aimed at maximising the efficiency of internal systems.

“The figures will be achieved through enhancement of staff capacity and retention, simplification of processes and procedures, growing the tax base and enhancing integrated data management, among other measures,” she said.

She hinted that the new strategy was strengthened by past lessons which were characterised by poor tax revenue management systems, inadequate foreign currency for external procurement and licensing of systems as well as human resources structural constraints.

“It is aligned to government’s vision 2030, Transitional Stabilisation Programme which will transform the tax authority into a leader in innovative fiscal services for a competitive business environment,” Mazani added.

Finance Ministry secretary, George Guvamatanga also told journalists at the same occasion that the strategy is being unveiled at an opportune time when government had successfully launched the Transitional Stabilisation Programme and the 2019 budget.

“These economic blueprints outline government priority policy areas targeting immediate quick wins and laying a robust base for sustained and inclusive economic growth and development over the implementation period,” he said.

He tasked ZIMRA to deepen revenue collection through improved voluntary compliance to be achieved through cooperative compliance programs and efficient risk based audits and tightened compliance enforcement strategies.