All set for tax review breakfast

ZIMBABWE’S premier business and financial newspaper, The Financial Gazette, says all is set for the annual tax review meeting to be held on Thursday.

The meeting, held in partnership with the Zimbabwe Revenue Authority (Zimra) and the Institute of Chartered Accountants of Zimbabwe (Icaz), would give insights, trends and tax developments in the country.

The publication’s advertising manager, Edwin Vengesa, said the second tax breakfast would provide an extended platform for interaction between the tax regulator and captains of industry and commerce at a time Zimra is revamping its information communication technology systems and digitalising tax payment systems in a bid to boost tax revenue collection.

“All is set for the meeting where stakeholders will engage with the fiscal authorities with the main aim of raising awareness on tax issues, especially in the current prevailing volatile economic environment. We hope to play our part in unpacking the tax issues in the country, especially in the prevailing volatile economic environment,” he said.

“As such, we are inviting government officials, the private sector, non-governmental organisations, local and foreign investors, embassies, the academia and individuals to register and participate in this auspicious event which will be graced by tax experts and captains of industry.”

Zimra commissioner-general Faith Mazani will be the guest of honour at the event pencilled for Rainbow Towers Hotel in Harare.

Icaz chief executive officer Gloria Zvaravanhu is expected to give an overview of corporate tax challenges during currency transitions.

Last June, the government made a surprise announcement of the return of the Zimbabwe dollar as the sole legal tender and banned the use of foreign currency in settling obligations within Zimbabwe, except for purposes of paying of duty and Vat upon importation of goods.

The meeting would also assist in resolving the administrative complexities and tax arbitrages associated with the multi-currency system.

Veteran economist John Robertson is expected to touch on the implications of fiscal and monetary measures on tax payments, while Shelton Kusotera, a tax specialist and a technical committee member at Zimbabwe Institute of Tax Accountants (Zita), will present on the contentious tax issues around royalties, employees’ tax annual submission and the Intermediated Money Transfer Tax.

Farai Mutambanengwe, Small and Medium Enterprises Association of Zimbabwe’s executive director, will speak on SMEs’ attitudes and practices towards tax compliance in Zimbabwe.
Josephine Banda of EY will moderate the event.