Zimra upgrades tax system

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The Zimbabwe Revenue Authority (Zimra) is upgrading its tax management system in a bid to enhance efficiency in domestic resource mobilisation through linking key institutions relevant to tax collection, an official has said.

The multi-million dollar exercise is being funded through a grant from the African Development Bank, which signed an agreement with the Ministry of Finance and Economic Development last week.

Of the US$10,4 million that the AfDB availed, Zimra will get about US$8,9 million for implementation of the project.

Speaking on the funding, Zimra Commissioner General, Faith Mazanhi said the new Tax and Revenue Management System (TaRMS) will replace the one that has been in use for the past 16 years and was now fraught with challenges. —New Ziana.

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