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Businesses trading in US dollars to pay tax in that currency, says Zimra
18 Nov 2018 at 12:45hrs | Views
In a subtle admission that Zimbabwe is using 3 currencies the USD, Bond and RTGS, Zimbabwe Revenue Authority (ZIMRA) is advising the public that businesses selling goods in USD should pay taxes in USD.
Said Zimra, "Zimbabwe Revenue Authority (ZIMRA) has noticed that there are businesses that are trading, withholding and collecting VAT, PAYE, Capital Gains Tax and other taxes in multi-currencies.
"Following this observation, ZIMRA has found it necessary to clarify that these businesses should remit taxes in the specific currencies in which they collect them without any conversion to RTGS, bond notes, local point-of-sale and mobile money.
"Clients can remit their multi-currency taxes to ZIMRA through the following FCA Nostro (USD) accounts."
Said Zimra, "Zimbabwe Revenue Authority (ZIMRA) has noticed that there are businesses that are trading, withholding and collecting VAT, PAYE, Capital Gains Tax and other taxes in multi-currencies.
"Following this observation, ZIMRA has found it necessary to clarify that these businesses should remit taxes in the specific currencies in which they collect them without any conversion to RTGS, bond notes, local point-of-sale and mobile money.
"Clients can remit their multi-currency taxes to ZIMRA through the following FCA Nostro (USD) accounts."
Source - Byo24News
