Published: 02 July 2014

The Ministry of Finance and Economic Development has been taken to task over why the Zimbabwe Revenue Authority continues to levy high taxes on an industrial base which is shrinking due to economic challenges.

During this week's question and answer time with government ministers in the national asssembly, Masvingo Urban legislator Daniel Shumba asked why Zimra continues to levy high taxes on an already troubled industry.

In response, the Deputy Minister of Finance and Economic Development Dr Samuel Undenge said Zimra is open to discussions with individual companies who can negotiate their taxation status if they cite viability challenges.

Revenue collection by Zimra has been subject to public scrutiny with suggestions the authority must not come too hard on the already struggling industry, but instead focus its energies to the informal sector.

Industry has shrunk to levels where the finance ministry says compared to the 600 000 people employed in the formal sector, the informal sector now accounts for over 5 million people.
- zbc

You might also want to read this

• ZIMRA delays Prospect's bid to increase stake in Arcadia
• Companies, parastatals default paying tax: Zimra boss
• Zimra sweats over tax defaulters
• Zimra lifestyle audit: 36 suspended
• Zimra on course to surpass $4,8 billion target
• Zimra collects $230m in Q1 at Beitbridge
• Zimra alerts buying public
• Chaos in Beitbridge after system collapse
• Zimra finalising fiscalisation project
• Zimra net closes in on tax dodgers