Minister Urges Local Authorities to Share Business Info With ZIMRA for Proper Tax Compliance

Minister of Finance, Economic Development, and Investment Promotion, Honourable Professor Mthuli Ncube, has called on local authorities to share information on businesses registered with city councils but not recognized by the Zimbabwe Revenue Authority (ZIMRA) to ensure proper tax compliance.

Professor Ncube highlighted that although these businesses are formally registered with local authorities, they are considered informal at the national level due to their lack of compliance with tax payments and other statutory contributions.

This follows concerns raised by Minister of Industry and Commerce, Honourable Nqobizitha Mangaliso Ndlovu, who noted the growth of informal and Mabhero markets, which threaten Zimbabwe’s formal sector.

To address this, Minister Ndlovu advocates for increased government investment in the manufacturing sector to support the formal economy.