News / National
Zimbabwe owed over $4,5bn by tax dodgers
31 Oct 2018 at 13:29hrs | Views
Government is owed over $4,5 billion by tax evaders, Finance ministry secretary George Guvamatanga has said.
Presenting the 2018 expenditures and 2019 budget priorities before the parliamentary portfolio committee on Finance on Monday, Guvamatanga expressed concern over tax dodging.
"It is important to note that we have a compliance issue, chairman. As of today, government is actually owed over $4,5 billion in unpaid taxes.
"The composition of these taxes ...is of significant concern to treasury. They are made up of Value Added Tax (Vat), Payee and income tax," he said.
"In other countries.... you collect Vat and income tax as an agent of the government and the expectation is that within a specified number of days after collection, you hand it over, and when you don't, it's theft or fraud," he said.
Presenting the 2018 expenditures and 2019 budget priorities before the parliamentary portfolio committee on Finance on Monday, Guvamatanga expressed concern over tax dodging.
"The composition of these taxes ...is of significant concern to treasury. They are made up of Value Added Tax (Vat), Payee and income tax," he said.
"In other countries.... you collect Vat and income tax as an agent of the government and the expectation is that within a specified number of days after collection, you hand it over, and when you don't, it's theft or fraud," he said.
Source - dailynews
