SMEs propose turnover-based tax system

FARAI Mutambanengwe, a leading voice in Zimbabwe’s small and medium enterprise sector, has proposed a turnover-based presumptive tax to simplify the tax regime for informal businesses.

The Zimbabwe Revenue Authority has been struggling to collect taxes from the small-to-medium enterprises (SMEs), owing to their informality.

Last year, the taxman set up a specialised unit responsible for following up on these operators.

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