Business / Economy
'Zimra taxes too high'
02 Jul 2014 at 17:54hrs | Views
The Ministry of Finance and Economic Development has been taken to task over why the Zimbabwe Revenue Authority continues to levy high taxes on an industrial base which is shrinking due to economic challenges.
During this week's question and answer time with government ministers in the national asssembly, Masvingo Urban legislator Daniel Shumba asked why Zimra continues to levy high taxes on an already troubled industry.
In response, the Deputy Minister of Finance and Economic Development Dr Samuel Undenge said Zimra is open to discussions with individual companies who can negotiate their taxation status if they cite viability challenges.
Revenue collection by Zimra has been subject to public scrutiny with suggestions the authority must not come too hard on the already struggling industry, but instead focus its energies to the informal sector.
Industry has shrunk to levels where the finance ministry says compared to the 600 000 people employed in the formal sector, the informal sector now accounts for over 5 million people.
During this week's question and answer time with government ministers in the national asssembly, Masvingo Urban legislator Daniel Shumba asked why Zimra continues to levy high taxes on an already troubled industry.
Revenue collection by Zimra has been subject to public scrutiny with suggestions the authority must not come too hard on the already struggling industry, but instead focus its energies to the informal sector.
Industry has shrunk to levels where the finance ministry says compared to the 600 000 people employed in the formal sector, the informal sector now accounts for over 5 million people.
Source - zbc
