Formalisation of SMEs to increase Zimra’s tax revenue collection

Formalisation of SMEs to increase Zimra’s tax revenue collection

Source: Formalisation of SMEs to increase Zimra’s tax revenue collection – Sunday News  Jun 18, 2017

THE increase in the number of Small to Medium Enterprises (SMEs) registering to formalise operations of their businesses is set to enhance the Zimbabwe Revenue Authority (Zimra)’s tax revenue collection. SMEs have become an integral part of the economy, and their contribution to the country’s gross domestic product has been growing over the years but Zimra has largely been unable to tap into the fast growing sector. As of last week a total of 11 191 SMEs had come forward to register with Zimra.

INDUSTRIALS

The Industrial Index’s winning streak continued as it surged by a further 4.26 points (2,29 percent) to close at 190.07 points on the back of improved trading activity. Most heavyweight counters gained ground with Hippo moving up by $0,0756 to trade at $0,7000, SeedCo traded $0,0730 higher at $1,2550 and Delta added $0,0622 to close at $1,2520. Other gains were in CFI which gained by $0,0146 to $0,1611 and Fidelity Life rose by $0,0145 to settle at $0,1305.

Axia, Econet, Mashonaland and Truworths traded unchanged at $0,0940, $0,3500, $0,0213 and $0,0100 respectively. There were no counters which traded in the negative territory.

The industrial index gained 12.28 (6,91 percent) points compared to week ending 9 June 2017.

MININGS

The Mining index was flat at 69.63 points. Bindura, Falgold, Hwange and RioZim remained unchanged at previous trading levels at $0,0300, $0,0100, $0,0235 and $0,5500 in that order.
Week on week the mining index was flat.

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