Global Forum Conference in Victoria Falls Reaffirms Commitment to Tax Transparency
Victoria Falls — The curtain came down on the 12th Competent Authorities Conference of the Global Forum on Transparency and Exchange of Information for Tax Purposes, which took place from 22 – 23 September 2025, with delegates reaffirming their united determination to strengthen international cooperation, curb illicit financial flows and embrace innovation in pursuit of global tax transparency.
The two-day meeting brought together 130 participants from 55 jurisdictions, further cementing Zimbabwe’s growing role in shaping the international tax agenda.
Opening the conference, Deputy Minister of Finance, Economic Development and Investment Promotion, Honourable David Mnangagwa, underlined the importance of openness in building resilient economies.
“Transparency and accountability are the cornerstones of resilient economies.
This conference has been about exchanging information, building trust and renewing our shared commitment to a financial system that serves people, not secrecy,” he said.
Deputy Minister Mnangagwa also noted Zimbabwe’s alignment with global best practice through key reforms, including joining the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAAC), endorsing the Yaoundé Declaration, strengthening beneficial ownership frameworks, and preparing for the Automatic Exchange of Information (AEOI).
“These steps reflect Zimbabwe’s conviction that domestic resource mobilisation is the foundation of sustainable development,” he added.
Throughout the sessions, participants examined billions lost annually to illicit financial flows, underscoring the urgency of stronger cooperation to trace hidden wealth, enforce tax laws and restore public trust.
Discussions covered global risks to exchange of information standards, lessons from peer reviews of the Common Reporting Standard (CRS) and the new enhanced monitoring process for jurisdictions implementing Exchange of Information on Request (EOIR).
Preparations for upcoming confidentiality and data safeguard assessments were also spotlighted, with consensus that robust data protection frameworks are essential for credible cross-border exchanges.
Emerging challenges dominated part of the agenda, including the tax risks posed by digital assets and steps towards implementing the Crypto-Asset Reporting Framework (CARF) — designed to keep global transparency standards abreast of technological advances.
ZIMRA Commissioner General, Ms. Regina Chinamasa, welcomed participants by stressing the broader value of tax transparency.
“Tax transparency is not just a compliance obligation but an enabler of sustainable development. Every dollar lost to tax evasion denies citizens essential services such as schools, hospitals and infrastructure,” she said.
Closing the conference, Ms. Zayda Manatta, Head of the Global Forum Secretariat, praised the commitment shown by delegates and encouraged them to sustain the momentum.
“The strength of the Global Forum lies in its members’ collective will to implement standards consistently and inclusively.
This meeting not only reinforced technical exchanges but also deepened professional networks, which are critical for effective cooperation,” she noted.
The gathering concluded with a resounding pledge to deepen collaboration, enhance exchange of information systems and empower competent authorities across jurisdictions.
Delegates left Victoria Falls with renewed commitment to tax transparency and fairness as vital tools for sustainable development.