Zimbabwe signs multilateral tax agreement

Published: 3 hours ago

Zimbabwe has formally signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAAC), joining over 150 jurisdictions in a global initiative to enhance cross-border tax cooperation and combat tax evasion.

The signing ceremony took place on 31 July 2025 at the Organisation for Economic Co-operation and Development (OECD) headquarters in Paris, where Zimbabwe Revenue Authority (ZIMRA) Commissioner General Ms Regina Chinamasa signed the agreement on behalf of the Government of Zimbabwe.

In a statement issued on Tuesday, Ms Chinamasa described the move as a landmark step towards greater transparency and alignment with international tax standards.

"We are aligning our systems with international standards to strengthen domestic revenue mobilisation and tackle illicit financial flows," she said.

Developed jointly by the OECD and the Council of Europe, the MAAC is the most comprehensive legal instrument enabling international administrative cooperation in tax matters. It provides for various mechanisms including exchange of information on request, spontaneous information exchange, simultaneous tax examinations, and assistance in tax collection.

Zimbabwe's accession to the Convention significantly expands its capacity for tax information exchange beyond its current framework of 19 bilateral double taxation agreements. Through MAAC, Zimbabwe will gain access to exchange tax information with over 150 jurisdictions, including major global financial centers.

Prior to signing, Zimbabwe underwent rigorous technical assessments covering its legal framework, confidentiality safeguards, and operational preparedness.

Ms Chinamasa also highlighted the establishment of a dedicated Exchange of Information (EOI) Unit within ZIMRA in January 2024 to manage these processes efficiently.

Additionally, an inter-agency EOI Country Working Group was formed to coordinate efforts among key stakeholders such as the Ministry of Finance, the Attorney General's Office, the Reserve Bank of Zimbabwe, the Financial Intelligence Unit, and various public and private sector entities.

The Convention is expected to be ratified by 31 August 2025, with operational access to its mechanisms anticipated from 1 January 2026.

Zimbabwe's entry into this multilateral framework underscores its commitment to strengthening tax governance and enhancing revenue mobilisation in line with global best practices.
- the herald

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