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Economy

Revision of tax policy in order to encourage entrepreneurs to formalise their operations.

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ZIMRA reviews Tax System to best cater for SMEs

Techzim

    

March 28, 2019

ZIMRA is in the process of reviewing taxing systems to accommodate the SMEs so that they contribute meaningfully to the economy, but also with limited cost on their part. ZIMRA understands the importance of SMEs and how they impact on the economy. Their research is looking at the feasibility of introducing a Turnover Tax, which will be a percentage of the income made by any person engaging in any kind of business. The business can then pay their tax by mobile phones at the end of each week or as at their desired frequency within each month. ZIMRA would want to see  SMEs growing into large corporates, but with a full understanding of their corporate responsibility. 
 

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