Taxation in Zimbabwe

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Local industry is proposing that government offers tax holidays for small- to-medium enterprises (SMEs) to help grow the sector that has become the backbone of the economy.

Zimbabwe’s tax revenue rose 29 percent to $1.1 billion during the first quarter of the year, the tax agency said on Monday, citing better tax compliance and an improving business environment under new President Emmerson Mnangagwa.

The Zimbabwean government may consider the introduction of sin taxes as part of plans to increase financial resources for health. The taxes if introduced will affect harmful products like alcohol and cigarettes.

Somani Narotam, the chairperson of a locally registered company, Surface Wilmar, has revealed that the Zimbabwe Revenue Authority (ZIMRA), owes them $1.8 million and claimed the tax collector was broke.

The Zimbabwe Revenue Authority (Zimra) has pleaded with business and industry to pay up their tax obligations as revenue collections continue to nosedive due to the prevailing harsh economic environment.

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