Mozambique: Tax Authority and Central Bank concerned about money laundering

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Mozambique: Tax Authority and Central Bank concerned about money laundering

12:37 CAT | 23 May 2018

Notícias

Money laundering, ignoring the exchange rate law and financial institution auditing are among matters of concern to the Central Bank and the Mozambique Tax Authority (AT).

In order to mitigate these phenomena, the two institutions recently signed a memorandum of understanding and yesterday started a training course for AT officials in Maputo.

At the two-day meeting, topics related to active and passive operations are being delivered: Main Products, Direct and Indirect Credit, Contraventions, Risk Mitigation Techniques, Supervision and Regulation, among others.

Speaking on the occasion, AT’s president Amélia Nakhare said that the training started as a result of the permanent interaction that the two institutions have carried out in order to ensure the improvement of tax efficiency achievement capacity, as well as compliance with the MoU signed by the parties in the recent past.

According to Nakhare, the subjects to be taught are vital to addressing the challenges faced by the institution that she directs in the fight against tax evasion and other fiscal crime, as well as to improve the capacity and efficiency of the employees in their fight against these evils.

Paulo Maculuve, Human Resources director at the Bank of Mozambique, said that, more than a training course, the meeting represented an exchange of information, experience and knowledge between the parties.

In his view, the Tax Authority and the central bank have the same aim, which necessarily entailed fiscal and financial stability, and it was therefore necessary to combine synergies so as to combat those evading the tax authorities and exchange rate control.

Training is being provided by officials of the Bank of Mozambique, the regulator of monetary and exchange rate policies in the country.

Source: Notícias