United Refineries Limited (URL) chief executive, Busisa Moyo, has urged the government to accept tax payments in the local currency to increase confidence in its use.
The businessman, who is also a presidential advisor to President Emmerson Mnangagwa made the remarks on the sidelines of the Confederation of Zimbabwe Industries (CZI) 2021 congress.
Speaking during a live radio talk show on the weekend, Moyo who is also the chairperson of the Zimbabwe International Trade Fair (ZITF), said:
The US$1: $200 and US$1: $100 rates have caused a lot of challenges in the industry, a lot of things are being chocked.
I do not think you should pay taxes in US dollars, you should pay taxes in the local currency. The government is the issuer of the local currency, the first backer of the currency is government itself.
You cannot invite me to your house and say I am buying myself a KFC when you are the one who cooked. If you invite me we eat together.
The local currency which is now trading at US$1: ZWL$99 on the official market and as high as US$1: ZWL$200 on the popular black market, has been losing value at a parafin speed since reintroduction in 2019.