November 18, 2024
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. Revenue collections for the third quarter of last year fell nine percent behind target with the trend likely to…
THE whistle-blowers’ fund introduced by the Zimbabwe Revenue Authority (ZIMRA) as part of efforts to reduce rampant corruption in the public and private sectors has been suspended, the Financial Gazette has learnt. Zimbabwe adopted comprehensive whistle-blower laws for tax purposes in 2001, and this is enshrined in the ZIMRA Act…
THE ZANU-PF government is on a collision course with its employees as the cash-strapped administration moves to trim its labour force, estimated to number over 250 000. Finance Minister, Patrick Chinamasa, in his budget presentation last month said employment costs had become a problem which could “not continue…
TAX experts in Bulawayo have welcomed Finance and Economic Development Minister, Patrick Chinamasa’s new tax measures which they said were business and people-friendly. Among other things, Chinamasa increased the income tax-free threshold from US$250 to US$300, while leaving the bonus tax-free threshold at the current US$1 000. “For…
AN increasingly desperate government can be very unpredictable and reactionary in its decision-making. It will do whatever it takes to seem in control even when the economy says otherwise. With almost no foreign budgetary aid, Zimbabwe funds itself relying entirely on what it collects from taxes from companies…
ZIMBABWE’S banking sector has been hit with massive withdrawals by risk-loathing depositors over the past five months, with banking sector sources indicating that reports of a return of the domestic currency have further unsettled bank customers. The Zimbabwe dollar was banished from circulation in 2009 to stem a hyperinflationary crisis…
REVENUE being remitted to the fiscus has suffered a major knock in recent weeks owing to a worsening liquidity crisis that could result in government operations grinding to a halt unless Treasury secures a huge cash injection to avoid a catastrophe this second quarter, the Financial Gazette can report. Across…
THE Zimbabwe Revenue Authority (ZIMRA) has swooped on the troubled Urban Councils Association of Zimbabwe (UCAZ) to recover close to half a million United States dollars lost through four years of sustained tax evasion. (more…)
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Mandla Tshuma BULAWAYO — The Zimbabwe National Road Administration (ZINARA) is to take over the running of the country’s toll gates from the Zimbabwe Revenue Authority (ZIMRA), a development likely to make at least 300 workers redundant.ZIMRA has been collecting fees from the country’s 22 toll gates since…