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The Zimbabwe Revenue Authority has embarked on a clampdown on defaulters following the expiry of the January 1, 2011 deadline.
Acting Secretary for Finance Mrs Judith Madzorera yesterday said registered operators in Category C should have fiscalised or commenced the fiscalisation process by January 1, 2011 failing which operators shall be guilty of an offence and liable to a fine or imprisonment.
“In order to ensure compliance, Zimra will undertake inspection and accordingly invoke penalties for non-compliance.
“The ministry wishes to further advise that registered operators in Category C, retailing zero rated or exempt goods are, are also required to fiscalise,” she said.
Operators earning US$240 000 annually fall under Category C.
The biggest number of retailers is yet to comply citing the high cost of the electronic registers and fiscal memory devices and the tendering process of the suppliers of the devices.
Finance Minister Tendai Biti during his 2011 National Budget Statement shifted the implementation of Value Added Tax fiscalised recording of taxable transaction from October 1, 2010 to January 1, 2011.
Zimra has also been dragging its feet on the proposed awareness campaign, resulting in some operators deciding not to buy the devices.-Business Herald
Online Reporter