Published: 12 June 2019

THE Zimbabwe Revenue Authority (Zimra) is advising members of the public to demand receipts from retailers and service providers that indicate the currency they would have used in effecting payments.

Zimra issued the advisory after noticing that registered operators are not remitting taxes in the receipting currency in order to cushion themselves against the depreciating local currency.

"It has come to the attention of the commissioner-general of Zimra that most registered operators are trading in both RTGS dollar and US dollar but the invoices are not being issued in the actual currency of trade by some organisations.

"Registered operators should ensure that invoices are issued in the currency tendered by the buyer of goods and services," Zimra said.

Zimra said tax payable in RTGS$ should be remitted to the commissioner general's RTGS account while foreign currency remittances should be made in the Nostro FCA.

Refunds in foreign currency will only be made after submissions of proof of tax invoice and verification of payment have been made.
- dailynews

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