ZIMBABWE should simplify and reduce the tax burden on businesses in order to promote formalization, enhance competitiveness and foster sustainable economic growth, experts have said.AdvertisementsThe country has a relatively higher number of taxes targeting businesses compared to the region, not only increasing the cost of doing business but also discouraging formalization. In order to circumvent…
‘Ease tax burden in order to encourage formalisation’
“High taxes and taxes linked to capital create significant challenges for investors. For example, the Intermediated Money Transfer Tax (IMTT) is capital-based, requiring payment upfront before any trade occurs."