ZIMRA Loses $4.5 Billion To Tax Evasion - Report
The Zimbabwe Revenue Authority (ZIMRA) is owed $4.5 billion in tax arrears by companies, some of which are owned by top politicians and business people with links to high ranking officials, a Zim morning Post report claims. A ZIMRA official who spoke to the Post had this to say:
ZIMRA is losing a lot of money and some companies opt to ZIMRA losing billions to tax evaders pay bribes to some officials just to avoid paying hefty tax fees.
ZIMRA has also called upon Small to Medium business enterprises to pay up their dues. A ZIMRA official said:
Small enterprises and co-operatives should register with ZIMRA and desist from tax evasion by virtue of their not being registered.
Such practices are illegal and once ZIMRA catches up with you there will be a lot of penalties involved which could result in the closure of some organisations.
Tax evasion is said to be rampant in Zimbabwe as it is committed especially by the top brass who are part of the political/business complex.
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