Convience Vs Burden
As a business owner, I'm sure you're no stranger to the complexities of tax compliance. The recent changes to VAT payment periods have left many of us scratching our heads, wondering how we're expected to stay afloat.
Limited Time for Compliance
With a mere 3-week window to make VAT payments, it's no surprise that many businesses are feeling the pinch. For those receiving payments after 30-60 days, it's a logistical nightmare. How are we expected to balance our cash flow and meet our tax obligations?
Conflict Vs Consultations
The current system seems to punish compliant taxpayers, while those who fly under the radar get to carry on unscathed. Is this really the best way to encourage compliance?
It's time for ZIMRA to take a step back and reassess their approach. Consultations with the business community would be a great place to start. Let's work together to create a system that's fair, reasonable, and supports the growth of legitimate businesses.
Some potential solutions could include:
- Extending the VAT payment period
- Offering incentives for compliant taxpayers
- Implementing a more streamlined tax clearance process
- Increasing transparency and communication between ZIMRA and businesses
It's not too late to make a change. Let's work towards a tax system that supports businesses, rather than hindering them.
