VARIOUS strategies to uncover hidden financial transactions and enhance domestic revenue mobilisation have been set up by Government, according to the Finance and National Planning Minister, Dr Situmbeko Musokotwane.These strategies, which are being implemented by the Zambia Revenue Authority (ZRA), are meant to curb illicit financial flows in the country.Dr Musokotwane pointed out that some of these strategies included setting up of a functional forensic lab that would help auditors and investigators uncover hidden financial transactions and trace illicit financial flows.He said other strategies were setting up of a dedicated investigations units that targeted countering tax evasion practices and prosecuting such offences.Dr Musokotwane said 700 tax evasion cases were prosecuted in 2021.He said this yesterday in Lusaka at the 10th Pan African Conference on Illicit Financial flows and taxation in a speech read by the ministry’s Permanent Secretary, Mr Trevor Kaunda.“We have also established a transfer pricing unit which is responsible for conduction specialised audits […]
Government acts to uncover hidden financial transactions to curb illicit financial flows
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