Zimra Records $27 Million Revenue Decline 10 Days After Govt Legalised Payment Of Import Duty In Forex

Zimra Head of Communications Mr Francis Chimanda said they recorded a decline of $27 million from commercial and vehicle imports in the first 10 days after Government legalised payment of duty on specified goods in foreign currency.

Chimanda said 10 days before the announcement of the new budget statement by Finance Minister Mthuli Ncube, they collected a total of $44, 579, 314, 94 from duty on commercial goods. He said a total of $17,935,969.83 in revenue was collected between 23 November and 2 December 2018 on commercial goods at all ports of entry. Chimanda said they collected $5,4 million (between 12 and 22 November) and $1,6 million (between 23 November and 2 December) respectively on vehicle imports nationwide.

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He said vehicle imports through Beitbridge had declined from around 200 to 40 daily. Said Chimanda:

An average of 40 vehicles are being cleared on a daily basis. Further, the national daily average of revenue collected for imported vehicles and commercial goods is $267,311.90 and $3,1 million daily. We also take note of non-compliance towards duty payments as a result of several factors including; attitude of some clients towards paying taxes, restricted border infrastructure versus the ever-increasing volumes of travellers who pass through the border during peak periods and the impact of stakeholder or partner processes in the clearance of travellers.

More: Chronicle

ZIMRABeitbridgeMthuli Ncube

The Zimbabwe Revenue Authority is a government department which is responsible for the collection of state revenue in form of excise duty, customs duty, road tolls, corporate and civil taxes. In addition, it also facilitates trade, offers fiscal advise to the government as well as... Read More About ZIMRA

Beitbridge is a Town located in Matabeleland South Province in Zimbabwe. Read More About Beitbridge

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... Read More About Mthuli Ncube

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One Comment on “Zimra Records $27 Million Revenue Decline 10 Days After Govt Legalised Payment Of Import Duty In Forex

  1. Structurally the Zimbabwe Economy is quite in shambles and this loss replicates internally and externally translating into deepening socioeconomic cultural hardships for the marginalized poor urban and rural population

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