Business / Economy
Zimra owed $2.8 billion in unpaid taxes
10 May 2017 at 07:10hrs | Views
The Zimbabwe Revenue Authority (Zimra) is currently owed $2,8 billion in unpaid taxes as companies continue defaulting due to several reasons, an official has said.
Zimra acting commissioner general Happias Kuzvinzwa told media practitioners at a media workshop in Bulawayo on Monday that the level of debt in Zimbabwe was overwhelming.
Kuzvinzwa said it has been observed that tax debt consists mainly of non-remittance of value-added-tax (VAT) and pay-as-you-earn (PAYE), which would have been paid or accrued to the taxpayer in the course of the business in the tax period.
Zimra acting commissioner general Happias Kuzvinzwa told media practitioners at a media workshop in Bulawayo on Monday that the level of debt in Zimbabwe was overwhelming.
Kuzvinzwa said it has been observed that tax debt consists mainly of non-remittance of value-added-tax (VAT) and pay-as-you-earn (PAYE), which would have been paid or accrued to the taxpayer in the course of the business in the tax period.
Source - Newsday
