News / National
Importation and Exportation of Currency by Travellers- Zimra
04 Jun 2016 at 09:17hrs | Views
The Zimbabwe revenue Authority has announced that the importation and exportation of currency is governed by the Reserve Bank of Zimbabwe (RBZ) in terms of the Exchange Control Act [Chapter 22:05] as read with Exchange Control Regulations Statutory Instrument 109 of 1996.
Zimra said the importation of currency into Zimbabwe by travellers is not restricted.
"This implies that any person can bring in any amount of currency into Zimbabwe. However, with immediate effect all visitors to Zimbabwe are hereby encouraged to complete a Baggage Declaration Form (Form 47) and declare the currency in their possession at the time of entry. The processed declaration forms may be used to support re-export of any balance of currency at the end the visit to Zimbabwe should it exceed the allowed export thresholds," Zimra said in a statement.
the authority said the exportation of currency from Zimbabwe is now restricted by the RBZ with effect from 5 May 2016.
"Members of the public are advised that with immediate effect, the amount of cash that can be exported in the baggage or upon a person has been reviewed downwards from US$5,000 or its equivalence in any other currency to the following limits: - Cash exports by individuals by denomination US$ EUR ZAR
Amount 1,000 1,000 20,000," Zimra said.
"Please note that an individual can take out with them either US$1, 000 or EUR1,000 or ZAR 20,000.00 at any given time. If the traveller wants to export cash in the combination of all currencies, the cash to be exported shall not exceed the equivalence of US$1,000 per exit. Where the individual intends to export currency above these stipulated thresholds, he/she shall seek approval from the Exchange Control Unit at the RBZ."Zimra said.
Zimra said all travellers leaving Zimbabwe are urged to strictly adhere to the limits as provided above. Any excess currency found in possession of travellers without authority shall be seized and may be forfeited to the State.
Zimra said the importation of currency into Zimbabwe by travellers is not restricted.
"This implies that any person can bring in any amount of currency into Zimbabwe. However, with immediate effect all visitors to Zimbabwe are hereby encouraged to complete a Baggage Declaration Form (Form 47) and declare the currency in their possession at the time of entry. The processed declaration forms may be used to support re-export of any balance of currency at the end the visit to Zimbabwe should it exceed the allowed export thresholds," Zimra said in a statement.
the authority said the exportation of currency from Zimbabwe is now restricted by the RBZ with effect from 5 May 2016.
"Members of the public are advised that with immediate effect, the amount of cash that can be exported in the baggage or upon a person has been reviewed downwards from US$5,000 or its equivalence in any other currency to the following limits: - Cash exports by individuals by denomination US$ EUR ZAR
Amount 1,000 1,000 20,000," Zimra said.
"Please note that an individual can take out with them either US$1, 000 or EUR1,000 or ZAR 20,000.00 at any given time. If the traveller wants to export cash in the combination of all currencies, the cash to be exported shall not exceed the equivalence of US$1,000 per exit. Where the individual intends to export currency above these stipulated thresholds, he/she shall seek approval from the Exchange Control Unit at the RBZ."Zimra said.
Zimra said all travellers leaving Zimbabwe are urged to strictly adhere to the limits as provided above. Any excess currency found in possession of travellers without authority shall be seized and may be forfeited to the State.
Source - Byo24News
