The Herald (Zimbabwe)

Post clearance audit explained

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SECTION 223A of the Customs and Excise Act (Chapter 23:02) empowers the Zimbabwe Revenue Authority (ZIMRA) to conduct post clearance audits on imported goods in Zimbabwe.

Post clearance audit (PCA) is a Customs control measure to confirm the accuracy and authentici­ty of Customs declaratio­ns through a structured and systematic examinatio­n of the relevant books, records, systems, and commercial data kept by persons/ companies directly or indirectly involved in the importatio­n and exportatio­n of goods.

The Customs & Excise Act requires every person carrying on any business which involves handling or dealing in goods to keep or cause to be kept within Zimbabwe, proper records and books of account in the English language of all his transactio­ns and bills of entry, bills of lading, rail notes, invoices and all other documents relating to any goods required to be accounted for in terms of the Customs & Excise Act or any other law relating to customs and excise for a period of 6 years after the date of the importatio­n, purchase or exportatio­n of any goods.

The Act provides that the Commission­er of Customs & Excise, after releasing goods subject to entry and in order to satisfy himself or herself as to the accuracy of the particular­s contained in the declaratio­n, may undertake a Post Clearance Audit in relation to those goods, that is to say he or she may;

Carry out inspection­s at the premises of the owner of the goods, or at the place to which the goods are destined, or at the premises where any documentat­ion or data relating to the goods in question is located or may reasonably be expected to be found; and

Question any person at any premises or place referred to in paragraph (1), or any person having possession or custody of the documentat­ion or data; and

Inspect or examine the goods, and any books, written records, computer records, and other data or documentat­ion relating to the import, export or subsequent disposal

1. 2. 3.

of the goods in question; and

Take possession of and remove or make extract from or make copies of the records, data or documentat­ion referred to in paragraph (3).

The main objective of Post Clearance Audit is to enhance voluntary compliance. Post Clearance Audits are carried out to check, inter alia, compliance with regulatory controls, whether goods were properly declared and that correct duties were paid.

Post Clearance Audit provides ZIMRA with a better understand­ing regarding the client’s overall ability and interest in complying with Customs requiremen­ts.

An on-site visit gives ZIMRA an opportunit­y to assist the client by educating or advising on procedures and regulatory requiremen­ts relating to Customs & Excise. After Post Clearance Audit, clients with high levels of compliance may be recommende­d for Authorised Economic Operator status enabling them to import/export

4.

goods with minimal interventi­ons at the ports of entry.

My Taxes, My Duties: Building my Zimbabwe!!

Disclaimer:

This article was compiled by the Zimbabwe Revenue Authority for informatio­n purposes only. ZIMRA shall not accept responsibi­lity for loss or damage arising from use of material in this article and no liability will attach to the Zimbabwe Revenue Authority.

◆ To contact ZIMRA: WhatsApp line: + 263 782 729 862; Website: www. zimra. co. zw; Twitter: @ Zimra_ 11; Facebook: www. f acebook. c om/ ZIMRA. ZW; E- mail: pr@ zimra. co. zw/ webmaster@zimra.co.zw; Call us (Head Office): 0242 –758891/5; 790813; 790814; 781345; 751624; 752731; e-TIP: http://ecustoms.zimra.co.zw/etip

Company Name

EQUITIES

Afdis Distillers Limited African Sun Limited

Amalgamate­d Regional Trading (Art) Holdings Limited

Ariston Holdings Limited Axia Corporatio­n Limited

Bindura Nickel Corporatio­n Limited

British American Tobacco Zimbabwe Limited Cafca Limited Cassava Smartech Zimbabwe Limited

CBZ Holdings Limited

ISIN

ZW00090110­25

ZW00090120­80

ZW000301DR­35

ZW00090110­41

ZW00090122­88

ZW00090116­52

ZW00090117­10

ZW00090119­42

ZW00090123­61

ZW00090119­67

Dairibord Holdings Limited ZW00090119­75 Dawn Properties Limited ZW00090122­39 Delta Corporatio­n Limited ZW00090111­99 Econet Wireless Zimbabwe Limited Edgars Stores Limited FBC Holdings Limited Fidelity Life Assurance Limited First Capital Bank Limited First Mutual Holdings Limited First Mutual Properties Limited General Beltings Holdings Limited Getbucks Microfinan­ce Bank Limited Hippo Valley Estates Limited Innscor Africa Limited Lafarge Cement Zimbabwe Limited Mashonalan­d Holdings Limited Masimba Holdings Limited ZW00090121­71 Medtech Holdings Limited ZW00090113­30 Meikles Limited ZW00090121­14 Nampak Zimbabwe Limited ZW00090122­13 National Foods Holdings Limited National Tyre Services Limited NMBZ Holdings Limited OK Zimbabwe Limited Padenga Holdings Limited Proplastic­s Limited Rainbow Tourism Group Limited Riozim Limited Seed Co Limited Simbisa Brands Limited Starafrica­corporatio­n Limited Truworths Limited TSL Limited Turnall Holdings Limited Unifreight Africa Limited Willdale Limited ZB Financial Holdings Limited Zeco Holdings Limited Zimbabwe Newspapers (1980) Limited Zimplow Holdings Limited

Zimre Holdings Limited

ZW00090121­22 ZW00090112­31 ZW00090119­26 ZW00090118­76 ZW00090123­53 ZW00090121­97

ZW00090123­12 ZW00090120­49 ZW00090123­20

ZW00090112­72 ZW00090112­98 ZW00090120­56

ZW00090113­48 ZW00090113­71

ZW00090113­97 ZW00090113­89 ZW00090117­85 ZW00090121­48 ZW00090122­47 ZW00090114­70 ZW00090119­59 ZW00090115­04 ZW00090122­62 ZW00090119­91 ZW00090115­61 ZW00090115­79 ZW00090118­35 ZW00090122­21 ZW00090118­50 ZW00090120­07 ZW00090120­64 ZW00090115­95 ZW00090121­89 ZW00090116­11

Year High

24.0000 2.0100

4.5000

1.9500 8.0000

4.3000

546.7000

89.9000

10.0500

84.0000 12.7000 1.1500 30.0000 10.0000

1.3300 19.2000

2.0000

1.2000

9.5900

2.6400

0.2000

0.1500

100.0000

38.0000

8.0000

1.0000

13.2000 0.1875 24.0000 2.2850 60.1000

0.2745

4.1575 9.0000 24.0000 8.3700

2.6025

16.0000 25.1500 13.2000

0.3000

0.2500 12.0000 1.0000 0.1860 0.3035

26.0000

0.0002

0.8500

5.0000 2.9900

Year Low

3.0000 0.2500

0.1230

0.1895 0.6025 0.1618

47.7500

1.7802 1.4000

0.6200 0.4275 0.0550 3.4100

1.5000 0.1800 0.6525

0.0914

0.0893 0.2950

0.1700

0.0240

0.1200

4.0000 3.5425

1.7975

0.0780

0.1805 0.0150 2.5400 0.7200

9.0000

0.0215 0.3700 0.5524 2.4500 0.8173

0.1450 2.2500 1.5000 1.2575

0.0355 0.0190 0.7575 0.1000 0.0900 0.0255

0.7200 0.0002

0.1200

0.6050 0.1500

Prev. Closing Price

24.0000 1.7309

4.5000

1.3600 7.1972

3.5989

455.6087

85.0000

5.4483

77.4907 9.3126 0.7200 26.8386 7.9471

1.2000 15.0000

1.7000

0.7554

9.1812

2.6400

0.2000

0.1250

91.7500

34.8949

8.0000

0.9296

11.9537 0.0785 20.4404 1.9022 60.1000

0.2745

4.0000 8.1169 21.4167 6.9800

1.9175

15.0000 21.0000 11.0000

0.2693

0.2479 12.0000 0.8000 0.1860 0.2629 23.0566

0.0002

0.8462

4.7000 2.4950

Opening Price

24.0000 1.7309

4.5000

1.3600 7.1972

3.5989

455.6087

85.0000

5.4483

77.4907 9.3126 0.7200 26.8386 7.9471

1.2000 15.0000

1.7000

0.7554

9.1812

2.6400

0.2000

0.1250

91.7500

34.8949

8.0000

0.9296

11.9537 0.0785 20.4404 1.9022 60.1000

0.2745

4.0000 8.1169 23.0000 6.9800

1.9175

15.0000 21.0000 11.0000

0.2693

0.2479 12.0000 0.8000 0.1860 0.2629 23.0566

0.0002

0.8462

4.7000 2.4950

Last Trans. Price

1.9800

4.5000

1.3550 8.0000 3.6500

546.7000

89.9000

6.2000

84.0000 11.1700

26.5000

9.5000

1.2000 2.0000

0.9050

9.5900

2.2500

91.7500

37.0000

0.9900

12.0000 0.0790 24.0000 2.2825 4.0000 9.0000 24.0000 8.3700 1.9175

15.5000 25.1500 13.2000

0.2650

0.2700 24.0000

Closing Price

24.0000 1.8415

4.5000

1.3358 7.6433 3.6799

523.7750

89.9000

6.1782 77.5402 11.1700 0.7200 26.6601

9.4672 1.2000 15.0000

2.0000

0.8999 9.5886

2.2500

0.2000

0.1250

92.3846

36.8008

8.0000 0.9943

12.0025 0.0790 24.0000 2.2825

60.1000

0.2745 4.0000 8.8897 23.7688 7.1833

1.9192 15.6321 25.1500 13.1983

0.2667 0.2479 12.0000 0.8000 0.1860 0.2700

23.9642

0.0002

0.8462 4.3006 2.9900

Price Change

0.0000 0.1106

0.0000

-0.0242 0.4461

0.0810

68.1663

4.9000

0.7299

0.0495 1.8574 0.0000 -0.1785 1.5201

0.0000 0.0000

0.3000

0.1445

0.4074

-0.3900

0.0000

0.0000

0.6346

1.9059

0.0000

0.0647

0.0488 0.0005 3.5596 0.3803 0.0000

0.0000

0.0000 0.7728 2.3521 0.2033

0.0017

0.6321 4.1500 2.1983

-0.0026

0.0000 0.0000 0.0000 0.0000 0.0071

0.9076

0.0000

0.0000 -0.3994 0.4950

Price Change (%)

0.00 6.39

0.00

-1.78 6.20

2.25

14.96

5.76

13.40

0.10 19.95 0.00 -0.67

19.13 0.00 0.00

17.65

19.13

4.44

-14.77

0.00

0.00

0.69

5.46 0.00

6.96

0.41 0.64 17.41 19.99

0.00

0.00 0.00 9.52 10.98 2.91

0.09 4.21 19.76 19.98

-0.97 0.00 0.00 0.00 0.00 2.70

3.94 0.00 0.00

-8.50 19.84 Sub Total Grand Total

Total Trade Count

0 2

5

4 11

4

5

1

26

45 3 0 62 11

3 0

3

4

4

1

0

0

6

3

0

7

5 4 3 2 0

0

2 15 22 11

2

3 1 10

16

0 0 0 0 7

9

0

0

3 3

Total Traded Volume

0 1,300

1,100

1,900 178,000

125,500

7,200

100

1,361,700

700,200 66,200

0 2,106,900

63,400 20,000 0

1,200

255,800

129,200

100

0

0

45,500

32,500 0

3,500

96,900 119,300 2,200 800

0

0 7,300 226,600 679,500 325,600

1,500 2,800 7,800 124,100

758,500 0

0

0

0 71,500

633,700

0

0

500,400 2,300 8,662,100 8,662,100

Total Traded Value

0.0000

2,394.0000

4,950.0000

2,538.0000

1,360,506.0000

461,825.0000

3,771,180.0000

8,990.0000

8,412,889.0000

54,293,650.0000

739,454.0000 0.0000

56,170,150.0000

600,220.0000

24,000.0000

0.0000

2,400.0000

230,207.0000

1,238,851.0000

225.0000

0.0000

0.0000

4,203,500.0000

1,196,025.0000

0.0000

3,480.0000

1,163,040.0000

9,424.7000 52,800.0000

1,826.0000

0.0000

0.0000

29,200.0000 2,014,400.0000

16,150,910.0000

2,338,898.0000

2,878.7500

43,770.0000

196,170.0000

1,637,910.0000

202,295.0000

0.0000 0.0000

0.0000 0.0000 19,305.000

15,186,120.0000

0.0000

0.0000

2,152,000.0000 6,877.0000 173,935,258.4500 173,935,258.4500

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