Zimra Orders Businesses Charging Foreign Currency To Pay Tax In Foreign Currency

In a notice, the Zimbabwe Revenue Authority (Zimra) said businesses that are trading in multi-currencies to remit taxes in the same currency in which the goods have been sold.

Said Zimra:

Zimbabwe Revenue Authority has noticed that there are businesses that are trading, withholding and collecting Value Added Tax, Pay As You Earn, 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.

 

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One Comment on “Zimra Orders Businesses Charging Foreign Currency To Pay Tax In Foreign Currency

  1. Zimra is telling the business community to never bank money. Keep it all locked up until time to pay your taxes in hard currency. No more RTGS. Am I missing something here?

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