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Currency options for crisis-ridden Zimbabwe
Zimbabwe needs to introduce a hybrid foreign currency management system or create a long maturity US$ Brady type bond to preserve savings amid the currency chaos, renowned economist Ashok Chakravarti ...Published: 30 mins ago | 24 | by Staff reporter
Prophet Magaya raided by Zimra as part of its lifestyle audits
THE Zimbabwe Revenue Authority last week raided Prophetic Healing and Deliverance Ministries leader Prophet Walter Magaya as part of its lifestyle audits.Zimra has been seeking clarity on how ...Published: 36 mins ago | 35 | by Staff reporter
Ginimbi denied bail in $3,5m fraud, money-laundering case
SOCIALITE and businessman Genius Kadungure, popularly known as Ginimbi, was yesterday denied bail by a Harare magistrate in a case in which he is accused of prejudicing Treasury of $3,5 million in a t...Published: 17 Nov 2018 at 06:53hrs | 2140 | by Staff reporter
Where are you Mr President ED Mnangagwa
First off, let me confess that I was the happiest man to see you ascend to the post of the President of Zimbabwe but that euphoria is quickly running thin.My dismay has many sources but today ...Published: 16 Nov 2018 at 15:14hrs | 6841 | by Sam Wezhira
Mnangagwa's anti-graft fight unconvincing
FOR splurging £16 million (US$21 million) on pricey jewellery and vintage wines over a decade, a British woman became the first target of a law seeking to dissuade criminals from enjoying their ill-g...Published: 16 Nov 2018 at 12:46hrs | 1681 | by Staff reporter
US dollar taxes loom
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 ...Published: 16 Nov 2018 at 07:03hrs | 8442 | by Staff reporter
Foreign suppliers threaten TelOne services over $18m debt
STATE-OWNED telecoms operator, TelOne, has been threatened with service disruption by critical foreign suppliers, who include West Indian Ocean Cable Company (Wiocc) and China-EximBank, among others, ...Published: 14 Nov 2018 at 05:43hrs | 266 | by Staff reporter
Anti-laundering, illicit dealings law takes effect
A clampdown on ill-gotten and unexplained wealth obtained by individuals involved in money laundering, crime and other illicit dealings has come into effect following the amendment of Statutory Instru...Published: 13 Nov 2018 at 19:04hrs | 2516 | by Staff reporter
Mthuli Ncube trims monthly fiscal budget deficit
TREASURY has scored excellent progress in trimming monthly fiscal budget deficit as part of Government's economic reform agenda with September 2018 deficit reduced to $19 million against a target of $...Published: 13 Nov 2018 at 05:50hrs | 838 | by Staff reporter
Auditor-General raps Treasury
Auditor-General Ms Mildred Chiri has rapped Treasury for failing to account for 1 200 computers worth $1,1 million donated by development partners and to properly record Government indebtedness, there...Published: 13 Nov 2018 at 05:41hrs | 380 | by Staff reporter
Panic as Mnangagwa targets cash barons' bank accounts
BOGUS businesspersons operating briefcase companies that fed on government tender manipulation and kickbacks to amass wealth are reportedly in panic mode after the State said it would use the Zimbabwe...Published: 12 Nov 2018 at 05:48hrs | 8605 | by Staff reporter
Zimbabwe illegal currency dealers to be jailed for 10 years
President Emmerson Mnangagwa has used temporary powers for a new law that will see illegal currency traders being sentenced to up to ten years in jail, while ill-gotten wealth will be confiscated....Published: 11 Nov 2018 at 09:17hrs | 1513 | by Staff reporter
Zimra puts cap on imported goods
THE Zimbabwe Revenue Authority (Zimra) has set the maximum quantities of good cross-border travellers can import for personal use that can be covered under the traveller's rebate.Travellers re...Published: 10 Nov 2018 at 11:06hrs | 1211 | by Staff reporter
Ex-Zimra boss Pasi in court over an Information Management System
FORMER Zimbabwe Revenue Authority (Zimra) commissioner general Gershem Takavada Pasi was on Thursday brought before the court on charges of criminal abuse of office after he allegedly engaged a third ...Published: 10 Nov 2018 at 10:55hrs | 239 | by Staff reporter
Travellers' rebate unchanged: Zimra
The Zimbabwe Revenue Authority (ZIMRA) has emphasised that it will remove the traveller's rebate for people who bring in goods in excess of $200. This comes as the Government indefinitely susp...Published: 10 Nov 2018 at 10:36hrs | 574 | by Staff reporter
Unexpalined wealth: Mnangagwa digs in
Wealthy Zimbabweans are in for a fix after President Mnangagwa has pronounced they must explain their source of wealth otherwise it will be deemed as ill gotten wealth. "People should...Published: 10 Nov 2018 at 09:31hrs | 12157 | by Mandla Ndlovu
Goods de-listed from import licence requirement
Following the gazetting of Statutory Instrument (SI) 237A of 2018, a number of goods which were formerly controlled by the Ministry of Industry, Commerce and Enterprise Development were removed from t...Published: 09 Nov 2018 at 16:59hrs | 3321 | by Zimra
Bonus assurance for civil servants
THE Minister of Finance and Economic Development, Professor Mthuli Ncube, yesterday assured civil servants of a bonus incentive for 2018 whose finer details would be clarified in due course in line wi...Published: 09 Nov 2018 at 05:03hrs | 3306 | by Staff reporter
Ex-Zimra boss appears in court, granted $2,000 bail
Former Zimbabwe Revenue Authority (ZIMRA) Commissioner General Mr Gershem Pasi has appeared before Chief Magistrate Mishrod Guvamombe facing charges of criminal abuse of office prejudicing the revenue...Published: 08 Nov 2018 at 17:15hrs | 1251 | by Staff reporter
2% money transfer tax simplified
Intermediated Money Transfer Tax is a tax collected in terms of Section 36G as read with the Thirtieth Schedule of the Income Tax Act [Chapter 23:06]. This tax has been in place since 2003 and an amen...Published: 08 Nov 2018 at 10:30hrs | 5040 | by Staff reporter
PAYE due date
PAY AS YOU EARN (PAYE) DUE DATE OCTOBER 2018 The Zimbabwe Revenue Authority (ZIMRA) hereby urges its valued clients registered for Pay As You Earn (PAYE) or required to be registered to take note ...Published: 08 Nov 2018 at 10:19hrs | 1826 | by Zimra
Ex-Zimra chief Gershem Pasi arrested
POLICE last night arrested former Zimbabwe Revenue Authority (Zimra) commissioner-general Gershem Pasi over criminal abuse of office."I can confirm that Pasi has been arrested. He is likely to...Published: 08 Nov 2018 at 05:44hrs | 6236 | by Staff reporter
Zimbabwe must set a clear development agenda
First and foremost, Zim is poised with toxic politics. We must deal with our politics first before we table economic matters. , it is important to admit that we have a crisis so that whoever comes on ...Published: 07 Nov 2018 at 16:27hrs | 507 | by Tinashe Eric Muzamhindo
Zimra in corruption clean-out
CONFUSION reigned supreme within the Zimbabwe Revenue Authority (Zimra) yesterday following reports that as many as eight senior managers had been suspended on corruption charges.Zimra Commiss...Published: 07 Nov 2018 at 06:06hrs | 780 | by Staff reporter
Zimra suspends 2 executives
The Zimbabwe Revenue Authority (ZIMRA) has suspended two unnamed executives pending investigations into offences also not specified.The authority issued a communiqué this evening confirming t...Published: 06 Nov 2018 at 20:32hrs | 4142 | by Staff reporter
Tax evaders give Zimra headaches
Organised criminal networks, smuggling syndicates and gold cartels are costing government millions of dollars and complicating Zimbabwe Revenue Authority (Zimra)'s revenue collection efforts.T...Published: 06 Nov 2018 at 11:40hrs | 604 | by Staff reporter
Zimra to flush out touts, bogus agents from Beitbridge
The Zimbabwe Revenue Authority (Zimra) is working on a number of initiatives to deal with bogus clearing agents and other rent-seeking activities, it has emerged. Border authorities said last ...Published: 06 Nov 2018 at 05:26hrs | 1363 | by Staff reporter
Mliswa disowns Twitter account
Norton Member of Parliament Mr Temba Mliswa has disowned a Twitter account using his name and challenged his Chivi South counterpart Killer Zivhu to prove that he indeed authored defamatory statements...Published: 06 Nov 2018 at 05:21hrs | 1341 | by Staff reporter
Zimbabwe investment enquiries peak $15 billion
The Zimbabwe Investment Authority had by June this year received 165 business applications worth more than $15,8 billion buoyed by a steady growth in the economy underpinned by various productive sect...Published: 06 Nov 2018 at 05:21hrs | 507 | by Staff reporter
Zimbabwe as a new gateway into Africa
ON Friday afternoon of 2 November 2018, I visited Surface Wilmar based in Chitungwiza, Harare. The company is owned by one of the largest companies in the world in the production of edible oils, based...Published: 05 Nov 2018 at 14:36hrs | 1644 | by Minister of Finance Prof Mthuli Ncube
Zimbabwe as a new gateway into Africa
ON Friday afternoon of 2 November 2018, I visited Surface Wilmar based in Chitungwiza, Harare. The company is owned by one of the largest companies in the world in the production of edible oils, based...Published: 05 Nov 2018 at 05:21hrs | 495 | by Hon. Prof Mthuli Ncube
'Mthuli Ncube tax to stabilise macro-economy'
Finance minister Mthuli Ncube said on Wednesday the new tax on electronic payments was a painful but necessary measure and urged Zimbabweans to be prepared to go through temporarily turbulent times af...Published: 02 Nov 2018 at 12:27hrs | 2165 | by Staff reporter
Zimra to crack whip on tax dodgers
Government is considering giving the Zimbabwe Revenue Authority (Zimra) absolute powers to descend heavily on tax dodging companies so as to recover the outstanding $4,5 billion. Finance and E...Published: 02 Nov 2018 at 05:43hrs | 391 | by Staff reporter
MPs roast Mthuli Ncube over cars
FINANCE minister Mthuli Ncube was yesterday cornered by legislators who demanded that government immediately buys them vehicles which they are entitled to.Hurungwe East MP Ngoni Masenda (Zanu ...Published: 01 Nov 2018 at 05:48hrs | 2971 | by Staff reporter
Zimbabwe owed over $4,5bn by tax dodgers
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...Published: 31 Oct 2018 at 13:29hrs | 820 | by Staff reporter
'Zimbabwe goods smuggled out of the county'
A number of product lines that have become household names in Zimbabwe are being smuggled out of the country, thereby depriving the fiscus of millions of United States dollars.The Daily News c...Published: 31 Oct 2018 at 13:25hrs | 1167 | by Staff reporter
Zimra deploys more staff to Beitbridge Border Post
Zimbabwe Revenue Authority (Zimra) is set to expand service points for duty assessments and deploy additional staff at Beitbridge Border Post in anticipation of an increase in traffic and cargo follow...Published: 30 Oct 2018 at 11:49hrs | 4345 | by Staff reporter
Govt cracks whip on Border Post officials
GOVERNMENT has cracked the whip on clueless Forbes Border Post officials for failing to find sustainable solutions to the congestion characterising the port of entry, resulting in long queues of truck...Published: 25 Oct 2018 at 06:29hrs | 1162 | by Staff reporter
Mnangagwa strikes at RBZ as promised
HEADS have started rolling at the Reserve Bank of Zimbabwe (RBZ), with four top executives being suspended yesterday less than 24 hours after Finance ministry communications taskforce chairperson Will...Published: 23 Oct 2018 at 06:40hrs | 12082 | by Staff reporter
Mnangagwa, Chiwenga in tussle for RBZ
The Reserve Bank of Zimbabwe (RBZ) on Monday suspended four directors, just hours after the Finance Ministry's new communication tzar William Gerald Mutimunje, also known as Acie Lumumba, went on Face...Published: 22 Oct 2018 at 20:56hrs | 31235 | by ZimLive
Mnangagwa threatens
PRESIDENT Emmerson Mnangagwa has said everyone must play according to rules as economic saboteurs face imminent arrest. The President said those who walk through the straight and narrow need n...Published: 22 Oct 2018 at 06:30hrs | 2193 | by Staff reporter
Zimra official charged with criminal abuse of office
A customs officer employed by the Zimbabwe Revenue Authority has been arrested on charges of criminal abuse of office after he facilitated the importation of a vehicle from South Africa. Kudza...Published: 22 Oct 2018 at 06:26hrs | 601 | by Staff reporter
Tackling the Zimbabwe black market
As we work towards improving and stabilising the flow of foreign exchange into the productive sector, we must at the same time ensure and enforce discipline in the market.This means everyone m...Published: 21 Oct 2018 at 15:26hrs | 2521 | by President Emerson D. Mnangagwa
Zimbabwe struggling with spike in fuel demand
Suspected smuggling of Zimbabwean fuel across the border is propelling the country's demand to record highs, with fuel consumption spiking by a staggering 30 percent since July this year, perman...Published: 21 Oct 2018 at 14:26hrs | 2068 | by Staff reporter
Zimbabwe tax system hit by low compliance levels
Zimbabwe's tax system is characterised by low compliance levels as registered corporate taxpayers are not remitting their dues, a tax expert has said.Speaking at The Financial Gazette tax revi...Published: 20 Oct 2018 at 13:59hrs | 2038 | by Staff reporter
Zimra to get new board by December
A new board for the government's taxes and revenue collection agency, the Zimbabwe Revenue Authority (ZIMRA) will be appointed by December as the state seeks to increase efficiency and stamp out corru...Published: 19 Oct 2018 at 14:24hrs | 1256 | by Staff reporter
Change of currency not ideal to revive Zimbabwe economy
THE country's economic crisis has deepened since the recent fiscal and monetary measures announced by Finance minister Mthuli Ncube and Reserve Bank governor John Mangudya. The economy has plu...Published: 19 Oct 2018 at 08:41hrs | 1851 | by Staff reporter
Zimra beats Q3 revenue target
Zimbabwe's gross revenue collections in the third quarter ended September amounted to $1,28 billion, surpassing the target of $1,089bn by nearly 18%, the tax agency said yesterday.The Zimbabwe...Published: 19 Oct 2018 at 06:40hrs | 583 | by Staff reporter
Zimra collects $7,5m car import duty in 12 days
The Zimbabwe Revenue Authority (Zimra) collected $7, 5million in 12 days in car import duty at Beitbridge as vehicle dealers acted on rumours that Government intends to introduce duty in US dollars....Published: 18 Oct 2018 at 17:18hrs | 3351 | by Staff reporter
Zimra officials jailed for undercharging Minister Joram Gumbo's wife
Two Zimbabwe Revenue Authority (Zimra) employees were yesterday sentenced to 36 months imprisonment each by a Harare magistrate after they were convicted of undercharging goods belonging to the wife o...Published: 18 Oct 2018 at 07:05hrs | 2807 | by Staff reporter
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