No revenue worries: Zimra 

Source: No revenue worries: Zimra | The Herald 25 FEB, 2020

No revenue worries: Zimra

The Zimbabwe Revenue Authority (Zimra) says the country should not fear losing revenue when it starts  implementing the Africa Continental Free Trade Area (AfCFTA) protocol as  it will still be levying other indirect and domestic taxes besides  import duty.

The AfCFTA agreement came into force mid-last year, becoming the  world’s largest free trade pact since the establishment of the World  Trade Organisation in 1994.

The pact seeks to create a single market for goods and services, free  movement of people and eventually a Customs Union with a common tariff  for the continent.

It is expected to create a market of over 1,2 billion people with a  Gross Domestic Product of $2,5 trillion. Zimbabwe had initially asked for a waiver to implement the agreement  until after 15 years to give its economy time to prepare and  re-industrialise following sanctions induced hardships faced in the past  two decades. — New Ziana.

COMMENTS

WORDPRESS: 0