ZIMRA Widens Tax Base With New Import Rules

4 years ago
Fri, 30 Aug 2019 00:39:26 GMT
Share on FacebookShare on TwitterShare on LinkedIn
ZIMRA Widens Tax Base With New Import Rules

The Zimbabwe Revenue Authority has announced that all importers of commercial goods will now be required to apply for and get a Business Partner Number from the tax collector.

The introduced system will increase ZIMRA’s tax base as small to medium businesses will now be taxed.

The current set up allowed for revenue leakage as most businesses were simply paying duty for commercial goods at the country’s ports of entry making it difficult for authorities to track and possibly tax the goods once they were into the country.

The ZIMRA statement read in part:

The Zimbabwe Revenue Authority (Zimra) in this public notice would like to advise that all individuals importing commercial goods into Zimbabwe would be required to apply for Business Partner Number through the Zimra E-Services platform. . .

Are you a Civil Servant or Pensioner in Zimbabwe?

Get a smartphone 📱 on Zero Deposit. 24 hours to process.

Click here to apply

Please note that with effect from 9 September 2019, no individual importing commercial goods, for example goods for resale of a value exceeding $8 000, will be cleared unless they have the Business Partner Number and a valid Tax Clearance Certificate.

The development does not come as a surprise to some who have been closely following Finance Minister, Professor Mthuli Ncube.

Addressing industry and commerce executives during a breakfast conference on taxation on the sidelines of this year’s Zimbabwe International Trade Fair (ZITF) in Bulawayo, Ncube said that the country needed to widen the tax base as well as include the informal sector and modernising collections.

There are some who previously said that the government cannot continue sustaining its expenditure by imposing endless taxes on citizens.

More: The Herald




Leave a Comment

Generate a Whatsapp Message

Buy Phones on Credit.

More Deals