Online Reporter
Judith Phiri [email protected]
THE Ministry of Women Affairs, Community Small and Medium Enterprises Development in partnership with the Zimbabwe Revenue Authority (ZIMRA) trained 80 Bulawayo micro, small and medium enterprises (MSMEs) on tax compliance and registration procedures.
As the city’s entrepreneurial backbone, MSMEs play a vital role in driving innovation, reducing unemployment and fostering community development, while they are estimated to generate 67 percent of Bulawayo’s revenue.
However, most the MSMEs have been found not to be tax compliant and get affected by nationwide blitz targeting smuggled goods and counterfeit products.
As Government continues to bolster revenue collection, a number of flea markets and premises in Bulawayo have faced closure due to tax evasion.
Speaking at the workshop in Bulawayo on Wednesday, a Zimra official called on the MSMEs to understand the tax procedures they need to do.
“As MSMEs you are required to register with the ZIMRA and comply with various tax obligations to formalise your operations and avoid penalties. Businesses must register to obtain a Business Partner (BP) Number and a Taxpayer Identification Number (TIN). Online Registration is conducted via the TaRMS Self Service Portal (SSP) at https://zimra.co.zw.”
He said to get a Tax Clearance Certificate from ZIMRA’s TaRMS system, MSMEs must be fully compliant, meaning all their returns are submitted, taxes paid and data updated.
“The certificate is then auto-generated and emailed to you, with no application needed if you meet all requirements on the TaRMS Self-Service Portal. You need to register on the portal, ensure your TIN is active and clear any outstanding tax obligations for the system to produce it automatically.”
However, the MSMEs called on Zimra to roll out continuous trainings for MSMEs and finding sustainable ways of enforcing compliance with taxation laws without closing their business premises.
According to the United Nations (UN) Globally, MSMEs account for 90 percent of businesses, employ 60 to 70 percent of the workforce, and contribute approximately 50 percent to the Gross Domestic Product (GDP).
In Zimbabwe, the 2021 MSME Survey and the 2022 Finscope Survey highlight that MSMEs contribute over 60 percent of the GDP and employ 4,8 million people on a full-time basis.
