Government has agreed to re-tender the contract to supply fiscalised cash registers to increase the number of suppliers in an effort to bid prices down, but maintained registered operators must comply by January 1 next year.
The review follows months of intense lobbying by Zimbabwe’s leading industry representative bodies, the Confederation of Zimbabwe Industries (CZI) and the Zimbabwe National Chamber of Commerce, unhappy with the “monopolistic pricing” behaviour of licenced vendors.
The Zimbabwe Revenue Authority (Zimra), with the approval of Treasury, had licenced two dealers, First Computers and Axis Solutions, to supply electronic fiscalised cash registers to every one of Zimbabwe’s retailers and electronic fiscalised signature machines to non-retail businesses registered for value added tax (Vat) under Category C.
Category C covers every operator, notching at least $240 000 in annual turnover.
“I propose to invite the participation of additional players in the supply of fiscalised devices,” Biti said in the 2011 Budget statement.
“Potential suppliers of fiscal devices will be advised through the public media when to submit applications to the Ministry of Finance.”
Fears have, however, remained that the re-opening of the tender may be a wild-goose chase without extending the compliance deadline, which, technically, would still leave only two options open. Government has extended the deadline thrice this year, from April 1 to October 1, then to January 1 next year.
The new system is being implemented to plug Vat leakages and boost tax compliance through Zimra-monitored GPRS-enabled equipment that captures and transmits transaction data on a real-time basis or through seal-protected read-only memory devices that store every transaction data.