Sunday , May 28 2023

ZIMRA's recent announcement is that the government is backing off, claiming that bonds / RTGS and USD are the same


All of us lie Our government, led by fiscal authorities (monetary authorities) and monetary authorities, likes to feed us: bonds, RTGS balance / Ecocash and real US dollars are one and the same. So ZIMRA's 2018 Announcement 45 seems to contradict everything.


Announcement contents

What did you say?

The ZIMBRA revenue authority (ZIMRA) has found that there are companies that trade, hold and collect VAT, PAYE, capital gains tax and other taxes in multiple currencies. As a result of these observations, ZIMRA found it necessary to clarify that the companies should transfer their taxes to certain currencies they do not convert to RTGS, bonds, local time of sale and mobile funding. Customers can transfer multiple taxes to ZIMRA through their FCA Nostro (USD) account as follows:

ZIMRA will enumerate this account and then the account will continue.


A customer who wishes to transfer money to another hard currency USD can ask about the bank listed above for their FCA Nostro account.

Some calls appear to be equivalent to other currencies.

Earlier this year, Kumbulani Davi State (State Ks Kumbulani Davi) failed to prove that the state was a crime because the bond was paid in lieu of the actual USD. In the end, if someone owes me money, you should not really care as long as you stick to the official exchange rate at that time as to whether you were paid in Rands, Pula, Pound, Euro or USD.

The government has insisted that bonds, RTGS / Ecocash and FCA nostro / USD are separate but equal. ZIMRA's announcement continues to prove that this apartheid mantra was a lie. This is another lie of the government. Actually some calls are more equal than others and ZIMRA knows this.

Foreigners were also asked to pay foreign currency when they paid fuel by pump. One assumes that discriminatory technologies should be used to profile and smell "foreigners." Industry minister Raj Modi charged his customers with real dollars in his shop despite government policies.

And here we are

I think the government should accept the facts. The power to enact laws does not mean that you have the power to change facts. It is like making the law that the sun will rise in the west and not in the east. I will not change the facts. All of us are making life difficult, just like we have to pretend publicly. We unofficially simulate and ignore the law.

It is unfair only when the government enacts a law that is against the law. They are sending a message that this law is what we are following and not following that law. And they wonder why foreign investors do not respond at the same time when they claim Zimbabwe is open for business. They are trying to draw straw into gold and nobody buys it.

ZimlaMinistry of FinanceEco cash

The Zimbabwe Revenue Authority is a government department that collects main income in the form of excise taxes, customs duties, road tolls, corporate and civil taxes. In addition, it also facilitates trade and offers financial advice to the government.

The Ministry of Finance and Economic Development is a government agency that manages the national financial and financial aspects through its ministries. It has various institutions managed by various personnel and these include the Zimbabwe Reserve Bank and the Zimbabwean National Bank … About the Treasury

EcoCash is a mobile remittance service operated by Econet Wireless Zimbabwe. The facility has been leapfrogging and growth since its inception and is the largest mobile money transfer agent, given the platform's massive volume of transactions … Read more: EcoCash

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