Zimbabwe Government Gazette dated 2018-03-19 number 25

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ZIMBABWEAN

GOVERNMENT GA ZETTE
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.
19-3-2018.
SCHEDULE
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
Zimbabwe
Funds banked in
Category a 714,204,171 250,000,000 464,204,171
circumstances
1,417,603, 404 591,100,000 826,503,404
Total

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,
President.
19-3-2018.