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US dollar taxes loom

by Staff reporter
16 Nov 2018 at 07:03hrs | Views
Businesses charging goods and services in foreign currency should start paying taxes, particularly value added tax (VAT) in hard currency, according to Zimbabwe Revenue Authority (Zimra) Commissioner General Faith Mazani.

Mazani revealed this yesterday during a Professional Women, Women Executives and Business Women’s Forum (Proweb) breakfast meeting in Harare.

She said Zimra has already opened a foreign currency account (FCA) as it gears up to start receiving taxes in hard currency.

The Reserve Bank of Zimbabwe (RBZ) is soon expected to announce that Zimra is now free to start collecting tax in foreign currency.

Source - Business Weekly