Zimra to introduce new fiscal devices soon

via Zimra to introduce new fiscal devices soon – NewsDay Zimbabwe June 26, 2015

The Zimbabwe Revenue Authority (Zimra) is set to introduce new fiscalised gadgets and the pilot project would target big, medium and small players, commissioner-general Gershem Pasi said yesterday.

BY VICTORIA MTOMBA

The move came as revenue inflow dwindle due to company closures and the informalisation of the economy in response to the economic meltdown.

Appearing before the Parliamentary Portfolio Committee on Small and Medium Enterprises, Pasi said government had introduced fiscalised gadgets but the equipment was old and created problems in the interaction of the system.

“We are bringing in from our perspective fiscalisation. As the revenue authority we have gone really far in modernising our system in putting in place robust technology to help us manage the revenue mobilisation efforts. To that extent you may recall some years back government introduced fiscalisation where traders and companies were asked to buy certain gadgets which were predetermined,” he said.

“Unfortunately the decision on the selection of the equipment was rather unfortunate. it was old equipment which people were forced to acquire which created a lot of problems in interfacing the technology with the computerised system and commercial entities.”

He said the revenue collector has “been working quietly in this regard [and] in a few weeks’ time we will be launching it”.

“It will provide the technology which is full proof and linked to our system. Our pilots will cover taxi. we are saying it’s time we formalise taxis. right now they are operating as mushika shika [pirate taxis],” he said.

Pasi said companies will be given back 50% from the investments they put for the fiscal device the first time.

“I cannot give you some of the details because our team is still working on it,” Pasi said.

Government introduced fiscalisation in 2010. It was then postponed to 2012 as companies and government failed to reach agreements on time.

All companies with an annual turnover of $240 000 were required by law to install the devices in line with value-added tax fiscalised recording of Taxable Transactions Amendment Regulations of 2010.

According to Statutory Instrument 153 of 2011, all companies should have fiscalised by January 1 2012.

Fiscalised tax registers record sales at the point of sale.

Commenting on the presumptive tax that is paid by the informal sector Pasi said there was a high level of non-compliance and they do not have fixed abode which makes it difficult to follow up on the sector.

“The presumptive tax is on the high side, we need to reduce them so that we encourage more people to comply,” he said.

He said Zimra was working with the Ministry of Small to Medium Enterprises. The ministry is creating a database of SMEs who can be trained, Pasi said.

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