The Zimbabwe Cross Border Traders Association has advised Minister of Finance and Economic Development Mthuli Ncube to charge duty in foreign currency for all Zimbabwe nationals who are based outside the country. The association also suggested that all foreigners bringing in containers of goods should pay for duty for the goods in foreign currency. In a series of policy proposals, Zimbabwe Cross-Border Traders Association Killer Zivhu said,
If they are unregistered investors, these foreign nationals must also declare with Zimra how they are going to take the capital they generate within our borders back to their countries…Zimbabweans living in the Diaspora must also pay duty in forex. When they come into the country, they burn their forex to acquire bond notes, which they then use to pay duty at the border…So, for example, if you are based in South Africa, you ought to pay duty in Rand. If they fail to pay duty in forex, their goods must be forfeited to discourage the smuggling of goods into the country.
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Bond Notes are a currency of notes backed by a bond that the Zimbabwe government announced on 4 May 2016 by Reserve Bank of Zimbabwe (RBZ) governor John Mangudya. The $2 denomination of the notes was finally introduced on 28 November 2016. More notes were... Read More About Bond Notes
Professor Mthuli Ncube is the Minister of Finance and Economic Development.He was the Chief Economist and Vice President of the African Development Bank ,financial, economics, investment, and public policy expert, entrepreneur and academic. Professor Ncube divides his time between the private sector in Switzerland and... Read More About Mthuli Ncube