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Zimra gives firms until December to declare forex transactions or risk hefty fines

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BY MEMORY MATARANYIKA

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Zimbabwean companies have until the end of this year to declare sales undertaken in foreign currency or risk rigorous audits and hefty fines – as dollarisation, which remains unmatched by foreign currency tax collections, intensifies across the economy.

The local unit of exchange, the Zimbabwe dollar, has continued to struggle on official and parallel currency markets, prompting traders to push for sales in hard currency.

President Emmerson Mnangagwa’s administration – cash-strapped owing to a dearth of foreign investment, smuggling of minerals such as gold, and because of its net importer status – is expecting a boost to its foreign currency revenues from the latest operation, which is targeting firms not declaring forex sales.

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The Zimbabwe Revenue Authority (Zimra) says it has noted that there are “… traders who are falsifying their financial records”, through failure to declare foreign currency sales or converting such sales into Zimbabwean dollar for taxation purposes.

Additionally, some companies that are transacting in foreign currency, “… are converting such transactions to Zimbabwean dollars for tax purposes”.

The authority has therefore given these businesses until December 31 to declare all sales recorded in foreign currency.

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“Zimra is therefore urging all traders to come forth and make voluntary disclosures of all under-declared or non-payment of tax by 31 December 2021 to avoid vigorous audits, prosecution and penalties that will be instituted soon after the deadline,” the authority said in a notice.

The ultimatum issued by Zimra for Zimbabwean companies to declare transactions undertaken in foreign currency comes on the back of a decline in export earnings amid high demand for forex across the economy.

Zimstats said earlier this month that the value of Zimbabwe’s total exports in August declined 5% to $597.2 million, with imports for the same period standing at $667.5 million.

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The central bank of Zimbabwe has also been battling to meet foreign currency demands from industry for retooling, raw material imports, and the resuscitation of the manufacturing sector.

Additional pressure on the government’s foreign currency resource base will be the payment of bonuses for civil servants in foreign currency.

Labour unions representing civil servants on Monday said the bonuses would be accessible in foreign currency from the banks.

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This is unlike in previous instances when the bonuses would be liquidated into local currency using the official exchange rate.

The Zimbabwe Confederation of Public Sector Trade Unions said in a statement that the bonus will be accessible in US dollars.

Analysts at Old Mutual Zimbabwe expect that the Zimbabwe dollar’s “… weakening is likely to persist”, for the remainder of the current quarter.

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ZimParks to host first-ever International Wildlife Conservation symposium

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BY NOKUTHABA DLAMINI

The Zimbabwe Parks and Wildlife Management Authority (ZimParks) will hold its inaugural International Wildlife Conservation Symposium under the theme “Wildlife Conservation and Sustainable Development.”

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The two-day event, scheduled for October 22 to 23, next week, will take place at the Management Training Bureau in Msasa, Harare. It will bring together conservationists, researchers, policymakers, and students to discuss key issues around wildlife protection and sustainable development.

The symposium will focus on eight sub-themes, namely Wildlife Conservation and Transboundary Management, Freshwater, Fisheries and Aquatic Management, Sustainable Tourism and Socio-Economic Development, Human-Wildlife Interactions, Environmental Health and Safety, Climate Change Adaptation and Mitigation, Community-Based Natural Resource Management, and Natural Resource Policy and Governance.

ZimParks says the symposium will provide a platform to exchange ideas and deepen understanding of the link between wildlife conservation and sustainable development. Members of the public, students, and professionals are encouraged to attend.

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CCC legislators in road accident, Nkulumane MP dies

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BY STAFF REPORTER

One Citizens Coalition for Change (CCC) legislator has died while four others were seriously injured in a road accident that occurred early Friday morning near Shangani along Bulawayo-Harare highway.

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CCC spokesperson Promise Mkhwananzi confirmed the accident, saying it happened between 2 a.m. and 3 a.m. when the vehicle carrying the members collided with an elephant.

“The vehicle hit an elephant along the Shangani area, and unfortunately Honourable Desire Moyo, the Member of Parliament for Ngulumane, died on the scene,” Nkwananzi said.

He added that the other occupants — Honourable Madalaboy Ndebele, Senator Rittah Ndlovu, Honourable Sethulo Ndebele, and Libion Sibanda — sustained serious injuries and were rushed to a hospital in Bulawayo.

Nkwananzi said he was deeply shocked by Moyo’s death, as he had met him just yesterday in Harare.

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“I had seen Moyo yesterday and we spent about an hour chatting outside Jamieson Hotel about the party and our future plans for national development,” he said. “I’m gutted by his passing. It’s a huge loss for the party.”

He conveyed his condolences to the Moyo family and wished a speedy recovery and strength to the families of the other CCC members who remain in critical condition.

He said further details, including the name of the hospital where the injured are receiving treatment, would be released once confirmed.

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Doctors slam delays in using sugar tax funds for cancer treatment equipment

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BY WANDILE TSHUMA 

The Zimbabwe Association of Doctors for Human Rights (ZADHR) has expressed concern over the government’s continued delays in disbursing funds from the Sugar Tax meant for the procurement of cancer treatment equipment.

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In a statement released yesterday , ZADHR said it was deeply worried by the slow pace of progress, two years after the introduction of the levy that was expected to finance the purchase of essential medical equipment for cancer patients across the country.

According to the association, by November last year, the Ministry of Finance and Economic Development had confirmed collecting US$30.8 million through the sugar tax — a surcharge imposed on sugary drinks and beverages. However, no disbursement had yet been made to the Ministry of Health and Child Care for the intended purpose.

“This delay undermines the purpose of the Sugar Tax, which was intended to improve public health outcomes through targeted investment in non-communicable disease management, including cancer prevention and treatment,” ZADHR said.

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Zimbabwe currently bears one of the highest cancer burdens in Southern Africa, with an age-standardised incidence rate of 208 per 100,000 people and a mortality rate of 144 per 100,000, according to Globocan 2022 data. These figures surpass those of neighbouring countries such as South Africa, Namibia, Zambia, and Botswana.

The association warned that the government’s inaction continues to worsen the plight of thousands of patients who face long waiting lists and limited access to treatment.

“The country records over 17,700 new cases and nearly 12,000 deaths annually, largely due to late diagnosis and inadequate treatment capacity,” read the statement. “This growing burden strains Zimbabwe’s fragile health system, escalates household health expenditures, and undermines productivity.”

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ZADHR called on the Ministry of Finance to urgently release the collected funds and for the Health Ministry to ensure transparent procurement and installation processes once funds are received.

The association also urged the Ministry of Health to build technical capacity among staff to maintain and effectively utilise the new equipment once installed.

“Equitable access must be at the centre of this rollout. Beyond the main Central Hospitals, provincial and district centres should also benefit to ensure no patient is left behind,” ZADHR added.

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