Zimra denies delaying UK loan disbursement

The Zimbabwe Revenue Authority (Zimra) has refused to shoulder the blame for the delay in the disbursement of the US$100 million commercial loan recently advanced by the British government, saying the tax collector does not have the legal mandate to make any tax concessions.

This comes after Zimra was accused of failing to clarify tax issues around the loan deal timeously.

Sources recently revealed that the delay in the disbursement of the fund, which is expected to re-equip companies, increase capacity utilisation and propel the turnaround of the depressed economy has rattled President Emmerson Mnangagwa and Finance minister Patrick Chinamasa.