Post clearance audit explained
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