The Zimbabwe Revenue Authority (Zimra) has started collecting taxes, especially Value Added Tax (VAT) and Pay-As-You-Earn (PAYE) in foreign currency from companies
that collect payments in that currency, but the informal sector continues to give the tax- man serious headaches.
Government directed Zimra to start
collecting VAT and PAYE in foreign currency from companies that collect revenue in foreign currency towards the end of November.
Zimra Commissioner General Ms Faith Mazani told The Herald Business in an exclusive interview that tax collections in foreign currency has begun.
“Yes, people have started paying taxes in foreign currency. I don’t have numbers as yet and would need to check with accounts, but we have started collecting and Ministry (of
Finance and Economic Development) has asked us to open a separate account for forex tax payments, which we have,” said Ms Mazani.The Herald