4 000 Big Businesses Not Paying Tax

Presenting the new Government’s Transitional Stabilisation Programme (TSP), Finance and Economic Development Minister, Prof Mthuli Ncube said an estimated 4 000 big businesses are not registered for tax purposes with the Zimbabwe Revenue Authority (Zimra).

Ncube said Zimra will go after those that are operating without paying tax. Said Ncube:

Growing revenue collections will also entail widening the tax base and also strengthening compliance levels of the more than 4 000 big businesses estimated to be operating without registering for tax purposes with Zimra. These companies are therefore outside the tax bracket. Pursuant to this, Zimra will be bringing in all those who are outside the tax net to also begin contributing to the fiscus. This also entails enhancing capacity through training of Zimra staff to be able to net all tax dodgers to ensure they also pay taxes for the realisation of the vision towards an upper-middle income society by 2030.

He added that adoption of online payment methods, intensification of tax education among other measures will be implemented to overcome some of the reasons behind non-tax compliance.

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More: Chronicle