- Zimra has seen a 5% increase in VAT compliance
- The fiscalisation management system is being extended to target small companies
- The VAT registration threshold has been reduced to US$25,000
- Zimra is aiming to bring more small to medium enterprises into the formal sector
- The market, mostly operating informally, has an annual turnover of over US$14 billion
- Zimra is targeting to improve SMEs contribution to the tax system by 6% to 8% this year
- The ‘Block Management System’ is being used to target the informal sector and educate and register small enterprises
- Efforts are being made to include all eligible taxpayers in the tax net
Source: newsday.co.zw
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
