Zimra tightens screws on businesses

GOVERNMENT and the business sector are headed for a showdown after the Zimbabwe Revenue Authority (Zimra) yesterday announced a raft of tough measures limiting the formal traders’ access to commodities from manufacturers and retailers.

According to the new measures, manufacturers can now only sell their goods to wholesalers who are registered for Value-Added Tax (VAT) and have tax clearance certificates.

The wholesalers would, in turn, only sell their goods to licensed and registered retailers while individuals can only buy goods worth not more than US$1 000 or its Zimbabwe dollar equivalent within 30 days.

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