Zimbabwe’s tax collector Zimbabwe Revenue Authority (ZIMRA) says it will start collecting taxes from small to medium enterprises this year to widen the shrinking revenue base, an official said on Monday.
Revenue collections for the third quarter of last year fell nine percent behind target with the trend likely to continue in the fourth quarter, whose figures are yet to be released, due to a cash squeeze and poor economic fundamentals. Corporate income tax was at $92 million, missing the $104 million target.
It is estimated that between $3 billion and $7 billion is circulating in the informal sector, which currently does not pay any form of taxes.
“Our thrust this year is to start collections from the small to medium enterprises. We are currently working on an invoicing system that will help us with audits for this particular sector,” Zimra acting commissioner general Tjiyapo Velempini on told The Source.
Finance Minister Patrick Chinamasa painted a bleak picture of the economy when announcing the 2015 budget last November dramatized by 64,000 job losses in the past four years as over 4,600 firms closed shop.
9 Replies to “Zimra To Tax Raid Small Businesses”
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When you buy your wares, airtime, fuel for your car, payment of electricity & food. Roughly how much are taking home per month. Iwe vanhu ava are so desperate to pay civil servants. Tichaona kunowira tsvimbo nedhowe.
When you buy your wares, airtime, fuel for your car, payment of electricity & food. Roughly how much are taking home per month. Iwe vanhu ava are so desperate to pay civil servants. Tichaona kunowira tsvimbo nedhowe.
mbavha gororo chenjera kuba
mbavha gororo chenjera kuba
Hamutibati, I buy my wares for cash and sell from my car for cash , then buy food and pay fees. At what stage do you tax me? Kunyeba chaiko!
Hamutibati, I buy my wares for cash and sell from my car for cash , then buy food and pay fees. At what stage do you tax me? Kunyeba chaiko!
And how do you propose to tax the vendor who sells on the street pavement in front of my legitimate, tax paying shop? They run away from every one in official uniform, even Safe Card security men, and how do you expect to invoice them since they are always on ”get set, go” and of no fixed aboard? A prudent solution is to get rid of these parasites and house them somewhere, so we can realize realistic sales and then we pay religiously to the fiscus. As it stands, its like you milked the cow dry and you are continuing to milk. End result, no more milk coming out from all the effort.
As it has been said many times before by others;There will be NO restoration until there is repentance!
As it has been said many times before by others;There will be NO restoration until there is repentance!