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Your Ministry of Finance

Vision

To be the centre of excellence in facilitating sustainable socio-economic growth and development.

Mission Statement

Mobilisation, allocation, management and accounting for public resources.

Overall Functions of the Ministry

To manage the Consolidated Revenue Fund, the National Development Fund and the public debt portfolio;
Formulate and administer the national accounting policy;
Formulate and administer the National Budget;
Design and implement up to date and effective systems of internal check and control;
Mobilise financial resources to finance Government Programmes;
Facilitate and participate in the negotiations related to domestic and international mobilisation of resources;
Collect revenue due to Government, in particular through the Zimbabwe Revenue Authority (ZIMRA);
Analyse the performance of public enterprises and advise on matters of financial policy;
Carry out macro-economic reviews and recommend policies that promote macro-economic stability necessary for sustainable economic growth and development;
Give policy guidelines to the Reserve Bank of Zimbabwe;
Administer the National Economic Conduct Inspectorate;
Administer Central Statistical Office.

Departments within the Ministry

Accountant General
Fiscal Policy and Advisory Services
Expenditure Department
Revenue Department
Domestic and International Finance
Finance, Administration and Human Resources
Implementation and Control of Expenditure Unit
National Economic Conduct Inspectorate
Central Statistical Office
Internal Audit
Legal Services

Structure of the Ministry

1. The Ministry of Finance is headed by the Minister of Finance, whilst the second in command and administrative head and Accounting Officer is the Permanent Secretary. The Permanent Secretary is assisted by three Principal Directors who head the following Departments:

Principal Director	Departments
Accountant General	Government Accounting Services Consolidated Accounts and Policy Aid Accounting, Funds and Parastatals
Budgets	Expenditure Public Sector Investment Programme
Finance and Taxation	Domestic and International Finance Revenue and Tax Policy

2. The following Departments report directly to the Secretary:

Internal Audit
Fiscal Policy and Advisory Services
Finance, Administration and Human Resources
Implementation and Control of Expenditure Unit
Legal Services
National Economic Conduct Inspectorate
Central Statistical Office

3. A copy of the detailed organogram of the Ministry is attached for information and reference.

PARASTATALS ADMINISTERED BY THE MINISTER

Reserve Bank of Zimbabwe
Zimbabwe Revenue Authority (ZIMRA)
Infrastructure Development Bank of Zimbabwe (IDBZ)
Zimbabwe Economic Policy and Research Unit (ZEPARU)
Insurance and Pension Commission
Securities Commission

COMPANIES IN WHICH THE MINISTRY HAS A SHAREHOLDING

ZB Financial Holdings
ZIMRE
CBZ
Printflow (Private) Limited
People's Own Savings Bank

ACTS ADMINISTERED BY THE MINISTRY

Chapter 11 of the Constitution of Zimbabwe (gives guidelines on financial matters)
African Development bank (Membership of Zimbabwe) Act [Chapter 22:01]
African Development Fund (Zimbabwe) Act [Chapter 22:02]
Audit and Exchequer Act [Chapter 22:03]
Banking Act [Chapter 14.02]
Bill of Exchange Act [Chapter 14:02]
Borrowings (validation) Act, 1987 (no. 2 of 1987) (Loans and Guarantees Act)
Building Societies Act [Chapter 24:02]
Capital Gains Tax Act [Chapter 23:01]
Census and Statistics Act [Chapter 10:05]
Collective Investment Schemes Act No. 25 of 1997
Customs and Excise Act [Chapter 23:02]
Debt Adjustment Tax Act, 1965 (No. 5 of 1965)
Decimal Currency Act [Chapter 22:04]
Department of Printing and Stationery (Commercialisation) Act, 1999 (No. 13 of 1999)
Estate Duty Act [Chapter 23:03]
Finance Act [Chapter 23:04]
Fiscal Appeal Court Act [Chapter 23:05]
Former Administration (Liabilities) Act [Chapter 22:06]
Hire Purchase Act [Chapter 14:09]
Infrastructure Development Bank of Zimbabwe Act
Income Tax Act (Chapter 23:06) (Transitional Period Provisions) Act [Chapter 23:07]
Insurance Act [Chapter 24:07]
Insurance and Pension Commissions Act of 2000
International Bank Loans Assumption Act [Chapter 22:08]
International Financial Organisation Act [Chapter 22:09]
Money-Lending and Rate of Interest Act [Chapter 14:114]
National Payment Systems Act [ Chapter 24:22]
Pension and Provident Funds Act [Chapter 24:09]
People's Own Savings Bank of Zimbabwe Act [Act no. 18 of 1999]
Post Office Savings Bank Act [Chapter 24:10]
Reserve Bank of Zimbabwe Act [Chapter 22:15] (Act No. 5 of 1999)
Revenue Authority Act [Chapter 23:11] (Act No. 17 of 1999)
Sales Tax Act [Chapter 23:08]
Savings Certificates Act [Chapter 22:12]
Securities Act [Chapter 24:25]
South African National Life Assurance Company (Private) Act [Chapter 24:13]
Stamp Duties Act [Chapter 23:09]
State Liabilities Act
State Loans & Guarantees Act [22:13]
State Provident Fund Act (Chapter 273)
Tax reserve Certificates Act (Chapter 23:10)
Trade Agreements (Validation) Act, 1981, (No. 24 of 1981)
Zimbabwe Development Bank Act [Chapter 24:14]
Zimbabwe Investment Centre Act [Chapter 24:16]
Zimbabwe Reinsurance Corporation Act [Chapter 24:17]
Zimbabwe Stock Exchange Act [Chapter 24:18]

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QUE: is it moral and legal for Zimra (Gweru) to charge tax on teachers' incentives

TENDAI: Section 8 of the Income Tax Act [Chapter 23:06] provides for the taxati...