News / National
Cabinet tightens screws on bosses
17 Jun 2014 at 07:27hrs | Views
Cabinet approved the remuneration policy framework to help impose taxes on the packages of heads of parastatals, state enterprises and local authorities after investigations conducted by the Zimbabwe Revenue Authority unearthed massive tax evasion.
The Corporate Governance and Remuneration Policy Framework, which deals with ways to restore accountability and stamp out corruption in parastatals, was drafted recently, but had not come into effect because Cabinet had not yet approved it.
It was discovered that heads of parastatals were awarding themselves mega allowances that were not being taxed, while they offered their salaries, which were little compared to the other packages, for taxation.
Cabinet has also approved the establishment of a Corporate Governance and Delivery Agency in the Office of the President and Cabinet responsible for ensuring the heads comply with provisions of the remuneration policy framework.
Officially opening a Zimra workshop for parastatals and State enterprises yesterday, Chief Secretary to the President and Cabinet Misheck Sibanda said Zimra discovered that public institutions were not complying with the country's tax laws.
He said the workshop had been specifically called to remind heads of parastatals and State enterprises of their tax obligations.
The Corporate Governance and Remuneration Policy Framework, which deals with ways to restore accountability and stamp out corruption in parastatals, was drafted recently, but had not come into effect because Cabinet had not yet approved it.
It was discovered that heads of parastatals were awarding themselves mega allowances that were not being taxed, while they offered their salaries, which were little compared to the other packages, for taxation.
Cabinet has also approved the establishment of a Corporate Governance and Delivery Agency in the Office of the President and Cabinet responsible for ensuring the heads comply with provisions of the remuneration policy framework.
Officially opening a Zimra workshop for parastatals and State enterprises yesterday, Chief Secretary to the President and Cabinet Misheck Sibanda said Zimra discovered that public institutions were not complying with the country's tax laws.
He said the workshop had been specifically called to remind heads of parastatals and State enterprises of their tax obligations.
Source - The Herald
