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Zimbabwe Outlines Revenue-Raising Measures

by Lorys Charalambous,, Cyprus

01 May 2015

The Government of Zimbabwe has outlined the measures it plans to implement in order to increase tax collections under its economic program monitored by the International Monetary Fund (IMF).

"The weak economic environment has constrained revenue collection," the Government said. "Thus, we have stepped up our efforts by increasing the excise duties on fuel, cigarettes, and beer, and the levy on tobacco growers."

The Government said that it will continue its efforts to collect tax arrears and has started working on strengthening revenue administration.

It noted in particular that the World Bank has been supporting its efforts in developing skills in value-added tax (VAT) management and addressing transfer pricing issues.

The Government requested IMF assistance in developing a tax incentive system for small- and medium-sized businesses and strengthening the mechanism for monitoring and evaluating the tax expenditure regime.

TAGS: environment | tax | business | value added tax (VAT) | Zimbabwe | tax incentives | International Monetary Fund (IMF) | excise duty | transfer pricing | tax reform

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