Government begins formalising the informal sector
THE Government has launched a programme to register all informal sector traders, creating a database to facilitate their compliance with the country’s laws and ensure they receive adequate support to grow their businesses.
The initiative comes as the Government intensifies efforts to formalise the informal sector while tackling the influx of cheap imported goods, which negatively impacts the economy.
During a parliamentary debate last week, legislators commended the Treasury, the Ministry of Industry and Commerce, the Zimbabwe Revenue Authority (Zimra), and other stakeholders for their firm stance against smuggling, saying it poses a major threat to economic stability.
THE Zimbabwe Revenue Authority (Zimra) has announced that Tax clearance certificates will be accessible only through the new tax and revenue management systems (TaRMS) through the self-service portal.
Zimbabwe Revenue Authority (Zimra)
Legislators noted that business owners are concerned that, while the revenue administrator is enhancing compliance, some shops, particularly SMEs, are closing.
Women Affairs, Community, Small and Medium Enterprises Development Minister, Senator Monica Mutsvangwa, emphasised the importance of compliance.
“When we talk about compliance, we are aware that several companies are already complying and meeting their statutory requirements, but what we are calling for with vendors is registration. As a ministry, we are registering all vendors and traders so that they can become compliant.
“As a Government, we are working to ensure this happens by providing workspace for our SMEs, providing digital money so that money circulates within the banks, and providing POS machines so that most people can make purchases using cards. It is about providing services so that SMEs can comply,” she said.
Minister Mutsvangwa said SMEs are ready to comply as they are well organised, but the issue of enforcement needs to be fine-tuned, as the Government needs the tax revenue, which plays a vital role in developing the country.
Since the last festive season, Zimra has conducted a nationwide blitz targeting smuggled goods sold in shops and businesses.
In Bulawayo, the blitz resulted in numerous traders operating at Haddon and Sly Building and Amaya Mall in the city centre being locked out as Zimra closed the premises as part of the operation.
The blitz is part of a broader multi-agency initiative aimed at curbing smuggling and unethical business practices, protecting local industries, and ensuring consumer welfare.
-chroncile
