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19 March 2018

Zimbabwe Government Gazette dated 2018-03-19 number 25

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                                                                  AN                fr,


                      Y                              EXTRAORDINAR
                                                             Published by Authority

                                                               19th MARCH, 2018                                                 Price US$2,00
       Vol. XCVI, No. 25

°    General Notice 163 of 2018.
                                                  EXCHANGE CONTROL ACT (CHAPTER 22:05]
                                                   AND INCOME TAX ACT [CHAPTER 23:06]

                                                AMNESTY IN RESPECT OF ILLEGALLY EXPATRIATED PROPERTY
                                                     STATEMENT ON THE STATUS OF THE AMNESTY

                                                                                         n, issued the statementset outin the Schedule.
       IT is hereby notified that His Excellency the Presidenthas, for public informatio
                                                                                                                                        V. MABIZA,
                                                                                                                    Secretary for Justice, Legal and
                                                                                                                              Parliamentary Affairs.
                                                                                             that| issued on 28th February, 2018, I would like to
       Furtherto the update on the Amnesty on extemalisation of foreign currency and assets
                                                                                          onthe  declaration andrepatriation of externalised funds.
     advise members ofthe public of the following progress on the response to the Amnesty
                                                                                             Amount declared and
                                                                Position before the          received after theend        Outstanding balance as
                Externalisationofillicit flows                                                                            per attached schedules
                         in respect of                               Amnesty                 of the Amnestyon 16
                                                                                                  March 2018

              Category I            Non-repatriation of                 526,552,276                289,100,000                    237,452,276
                                      export proceeds

                                   Paymentfor imports
                                                                        176,846,957                  52,000,000                    124,846,957
              Category If             not received in
                                      Funds banked in
            Category               a                                    714,204,171                 250,000,000                    464,204,171
                                                                       1,417,603, 404               591,100,000                    826,503,404

                                                                                                        at 16th March, 2018, ignored and or neglected
        Entities and individuals listed in the three following categories ofillicit financial flowsas       in respect of unrepatriated export proceeds,
                             to accountfo rthe   fnds  indicated as having been   keptoutsi de  the country
      the Amnestybyfailing                                                                    banksin   cash or under spurious circumstances.
      paymentsfor imports not received     in Zimbabwe  and   funds  transferre d  to foreign
                                                                                                                to account for the externalised funds,
        Thus, despite concerted efforts by Authorities and banks to request these entities and individuals
                                                               to respond to the Amnesty.It   is against this backgroundt hat the Authorities have no
      the entities or individuals failed, ignored or neglected
                                                                                                   the names of the entities and individuals so that the
      other recourse to causethese entities and individuals to respond,otherthan to publicise
                                                                                             the legal obligations of citizenry and, where necessary,
      concemedparties take heed of the importance of good corporate governance and
      to ensure that those responsible for suchillicit  financial flows are broughtto  justice.
                                                                                                        parties can show proof of declaration and/or
         The Reserve Bank of Zimbabweis ready to process transactions where the concemed
                                                                                                            This ts despite the fact that ample
      repatriation of funds without prejudice given that the burden ofprooflies with the concerned parties.
                                            period to account and repatriate all externalise d funds.
      time was granted under the Amnesty
                                                                                                                               E. D. MNANGAGWA,
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