Source: Zimra to introduce electronic registers – NewsDay Zimbabwe April 27, 2016
THE Zimbabwe Revenue Authority (Zimra) is in the process of interfacing fiscal electronic registers to the authority’s servers as it moves to plug leakages.
BY TARISAI MANDIZHA
Fiscal registers are electronic devices used to calculate financial transactions. Fiscal registers were introduced in 2011 to ensure that the tax collector was not prejudiced by retailers in tax remittance.
In a statement yesterday, Zimra said the interface would enable real time transmission of registered operators’ sales transaction data to Zimra to fulfill the requirements of the Value Added Tax Fiscalised Recording of Taxable Transactions regulations 2010.
“Clients who are registered to use fiscal devices are, therefore, advised to immediately contact their fiscal device suppliers to initiate the process of linking fiscal devices to Zimra,” the tax collector said.
In an interview with NewsDay, Zimra chairperson Willia Bonyongwe said Zimra was working on a tax management system to interface old and new fiscal registers so the system runs effectively.
“We want to automate and bring everybody to be in line with our system,” Bonyongwe said.
Revenue going into Treasury coffers continues to decline, a reflection of the harsh economic environment that has spawned massive retrenchments and company closures.