VAT - Revenue collection enhancement measures
To safeguard fiscal revenues, Zimbabwe’s revenue collecting body, the Zimbabwe Revenue Authority (ZIMRA), has put in place the following measures:
- VAT registered taxpayers’ (operators’) systems must now interface with ZIMRA’s server. Operators whose systems do not interface will not be issued a Tax Clearance Certificate;
- Non-compliant operators are excluded from participating in the weekly foreign currency auctions;
- Effective immediately, the ZIMRA is undertaking a comprehensive audit of all VAT registered operators, with a view to account for all sales, with particular emphasis on sales in foreign currency;
- The ZIMRA will provide the public with a 24-hour Hotline through which people can anonymously report non-compliant operators;
- To safeguard revenues, especially foreign currency, the ZIMRA will roll out awareness campaigns aimed at educating the transacting public to demand receipts showing the correct currency of trade.