HARARE – Listed cigarette-maker British American Tobacco Zimbabwe Holdings Limited (BAT Zimbabwe) has been ranked among the top contributors to the fiscus by the Zimbabwe Revenue Authority (Zimra).
The group — which in 2012 contributed over $28,6 million in excise duty, value added tax, and other tax payments to the fiscus — was ranked third in the Large Clients Office VAT payments category.
Zimra recently hosted the second edition of its annual Taxpayer Appreciation Day, created to recognise the best taxpayers and the significant role that tax revenue plays in Zimbabwe’s economy.
In 2011, BAT Zimbabwe was also awarded by Zimra after coming second in the excise duty category.
Lovemore Manatsa, BAT Zimbabwe’s managing director, said the latest award “recognises the company’s contribution and commitment to the Zimbabwean economy.”
“BAT Zimbabwe supports fiscal policies that stimulate growth of the industry, encourage fair competition, investment and entrepreneurial activity,” he said.
Manatsa said the sale of BAT Zimbabwe’s products provides a key source of business for small to medium enterprises and thousands of formal, as well as informal traders around the country, generating excise revenue that is channelled to the fiscus.
“BAT Zimbabwe will continue to invest and participate in the economy of Zimbabwe through empowerment initiatives such as these which we believe are important to the continued growth of our business and the economy as a whole,” he added.