Zimra board pockets $300,000

Zimra board pockets $300,000
Published: 17 July 2018 (233 Views)
Zimbabwe Revenue Authority (Zimra) board members made rich pickings from fees and allowances last year after pocketing a combined $292 582 last year, representing a 9 percent rise from the prior year.

The Zimra board has 10 members who were appointed on June 26, 2015.

In 2016, Zimra board members were paid $268 225 in board fees and allowances but the figure shot up to $292 582. The cause of the jump in board allowances and fees could not be established by the time of going to print.

Zimra board chairperson Mrs Willia Bonyongwe's board fees were unchanged at $24 000 from the prior year.

The vice board chairperson Mr Percy Toriro's fees were also unchanged at $20 000 while eight other board members got a combined $126 000, which was $15 000 lower than what they raked in 2016.

Zimra's annual report for 2017 shows that in terms of sitting allowances, the board chairperson got $20 761, representing an almost 100 percent jump from the $10 800 she obtained in the year earlier. The vice board chairperson also recorded a huge increase to $15 400 from $9 725 in the year earlier reflecting a 58 percentage increase.

Similarly, other board members recorded a jump in sitting allowances to $86 422 last year from $62 650 in the comparative period indicating a 38 percent jump.

Government has previously expressed concern over the frequency with which some parastatal boards meet. It is understood that some board members increase the number of their meetings to further milk the already burdened firms.

Government has crafted a law, the Public Entities Corporate Governance Act and was gazetted in May this year, to stem the tide of board members and chief executive officers who enrich themselves at the expense of the companies they lead.

According to the Public Entities Corporate Governance Act, payments to board members will be based on the entity's financial capacity and the standards observed at organisations of a similar size and nature. Board members are no longer allowed to access loans or any other credit facility from State-owned enterprises and parastatals.

Anyone found in breach of the law will be fined and/or imprisoned for a year. Board members will only serve for eight years while no one will sit on more than two boards, and the primary basis for all appointments will be merit. Ministers, who were previously accused of appointing their friends as board members and CEOs, are now required to notify the Corporate Governance Unit in writing and to justify the appointment. CEOs will also be appointed on merit through an interview process, be evaluated annually, and serve for a maximum of 10 years.

Section 17(1)(c) reads: "  . . .  no chief executive officer shall, even if his or her performance has met such standards, be re-appointed after the tenth annual review, unless the President's approval of the re-appointment is obtained."

The total remuneration and benefits bill should also not exceed 30 percent of the organisation's revenue or operational budget for the prior year.

- dailynews

Tags: Zimra, Board, Pockets,
 0

You May Like These Videos

Comments

There are no comments.

Latest stories

Woman found guilty of lust

by Simbarashe Sithole | 20 August 2018 | 301 Views

Paul Siwela: Lion King that is about to roar

by Israel Dube | 20 August 2018 | 177 Views

Chiwenga represents the 'New Disorder' not New Dispensation

by Knowledge Hakata | 20 August 2018 | 260 Views

Tajamuka demands courts to swear in Chamisa

by Stephen Jakes | 20 August 2018 | 258 Views

Chamisa urges fasting, prayers for crunch Wednesday hearing

by Staff reporter | 20 August 2018 | 193 Views

Deportation of Tendai Biti low, low point for Zambian regime

by Prof. Michelo Hansungule | 20 August 2018 | 110 Views

Why Biti was deported from Zambia

by Staff reporter | 20 August 2018 | 192 Views

Chamisa's heads of argument in Con-Court showdown - FULL-TEXT

by Staff reporter | 20 August 2018 | 306 Views

Woman found gift of lust

by Simbarashe Sithole | 20 August 2018 | 118 Views

Mathuthu gets hero's send-off

by Staff reporter | 20 August 2018 | 97 Views

A journey well completed

by Emmerson Mnangagwa | 20 August 2018 | 102 Views

Chamisa election petition latest

by Staff reporter | 20 August 2018 | 184 Views

Constitutional Court to set number of precedents

by Editorial - the herald | 20 August 2018 | 118 Views

Devolution a priority, says Mnangagwa

by Staff reporter | 20 August 2018 | 61 Views

Jockeying for Kwekwe mayoral post begins

by Staff reporter | 20 August 2018 | 82 Views

Harare Poly gets nod to offer media degree

by Staff reporter | 20 August 2018 | 64 Views

Three eye Masvingo mayoral post

by Staff reporter | 20 August 2018 | 93 Views

What sin did Ariel Sibanda commit Mr Chidzambwa?

by Sikhumbuzo Moyo | 20 August 2018 | 98 Views

'We'll not mourn,' says Mnangagwa

by Staff reporter | 20 August 2018 | 100 Views

Zimbabwe inflation reaches record high since 2012

by Staff reporter | 20 August 2018 | 94 Views

Mnangagwa pays tribute to Kofi Annan

by Staff reporter | 20 August 2018 | 81 Views

Democracy, elections bad for collective cause

by Reason Wafawarova | 20 August 2018 | 74 Views

Son 'kills' mum over 50c

by Staff reporter | 20 August 2018 | 92 Views

'Devolution key to economic development'

by Staff reporter | 20 August 2018 | 58 Views

MDC Alliance candidate petition hearing date set

by Staff reporter | 20 August 2018 | 78 Views

Hunter challenges conviction, sentence

by Staff reporter | 20 August 2018 | 55 Views

Industry expresses concern over poor quality imports

by Staff reporter | 20 August 2018 | 67 Views

Police boss blocked from probing cop

by Staff reporter | 20 August 2018 | 63 Views

Teenage woman kills hubby

by Staff reporter | 20 August 2018 | 76 Views

Woman in trouble after accusing neighbour of lust

by Staff reporter | 20 August 2018 | 51 Views

Madlela set to launch album

by Staff reporter | 20 August 2018 | 64 Views

Chamisa court case broadcast commendable, but ...

by Editorial - mewsday | 20 August 2018 | 107 Views

Zanu-PF plots at witch-hunt over 'bhora musango'

by Staff reporter | 20 August 2018 | 45 Views

Duo electrocuted in attempted cable theft

by Staff reporter | 20 August 2018 | 38 Views

'Mnangagwa's Biti tweet misconstrued'

by Staff reporter | 20 August 2018 | 89 Views

Divisions rock Zanu-PF

by Staff reporter | 20 August 2018 | 57 Views

Nobuntu dazzles Bulawayo fans

by Staff reporter | 20 August 2018 | 88 Views