Zimra has not yet closed any company

The Zimbabwe Revenue Authority (Zimra) has refuted allegations that it has closed many companies in the country due to high taxation, saying companies were shutting themselves down by failing to liquidate their debts.

Companies have been accusing Zimra of destroying their operations by garnishing their accounts, in the event that they fail to pay Zimra dues. Companies whose accounts have been garnished by Zimra would not be able to transact.

Zimra is currently owed close to $2,8 billion by companies and individuals in unpaid taxes.

Meanwhile, the government is yet to amend 22 pieces of legislations in line with efforts to address the ease of doing export business in Zimbabwe under the Rapid Results Approach initiative.

The rapid result initiative ends on June 14, 2017.

In line with this initiative, the amendments of the legislations seek to address the issues of high cost production and complex procedures and the target is to reduce time and cost of exporting by 50%.

Some of the SI includes Statutory Instrument 8 of 1996, Statutory Instrument 350 of 1993, Statutory Instrument 140 of 2013, SI 9 of 2004, Section 7, Statutory Instrument 59 of 1997, Statutory Instrument 126 of 2014 among many others needs to be in line with the current trends of doing business.