HomeNewsGweru business community calls for informal sector taxation

Gweru business community calls for informal sector taxation

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Gweru — The business community in Gweru has urged the government to come up with a position on ways to tax the informal sector in the 2013 Budget if Treasury is to broaden its revenue collection base.

REPORT BY STEPHEN CHADENGA OWN CORRESPONDENT

In his contribution to the 2013 Budget consultative meeting in Gweru yesterday, Zimbabwe National Chamber of Commerce Midlands representative Michael Phiri urged Treasury to ensure the informal sector contributed to the national fiscus.

“Currently we have 70% of the population employed in the informal sector and this is quite a significant figure,” Phiri said.

“We have been talking about these figures for a long time, but now is the time, particularly in the 2013 Budget, that the government should come up with a clear position on how to rope in the informal sector, so that they come in the tax base.

“They (informal sector) should contribute to the fiscus and not only a few (enterprises) in the formal sector.”

Economic experts estimated that over $3 billion was circulating in the informal sector.

Phiri further urged the government to address the balance of payments issue, saying the current trade deficit of $1,7 billion was unacceptable.

He said the business community in the province expects the Finance ministry to minimise imports, increase exports and that the government should take a leading role in the “Buy Zimbabwe Campaign”, aimed at promoting the country’s image.

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