Govt tar­gets un­remit­ted tax

Sunday News (Zimbabwe) - - Front Page -

GOVERN­MENT will em­ploy ag­gres­sive mea­sures to col­lect un­remit­ted tax rev­enue amount­ing to $3,3 bil­lion, in­clud­ing in­ter­est, to clear Trea­sury’s $2,3 bil­lion over­draft po­si­tions with the Re­serve Bank of Zim­babwe (RBZ), ac­cord­ing to Fi­nance and Eco­nomic De­vel­op­ment Min­is­ter Pro­fes­sor Mthuli Ncube. Govern­ment is sad­dled with a $16,9 bil­lion debt, of which $9,6 bil­lion con­sti­tutes ex­ter­nal debt, which is block­ing the coun­try from ac­cess­ing ex­ter­nal lines of credit, while the bal­ance is do­mes­tic and in­clude the RBZ over­draft. ALL SHARE

The All Share in­dex con­tin­ued its win­ning streak as it added 2.52 points (1,60 per­cent) to close at 159.96 points. Delta went up by a fur­ther $0,0948 to close at $2,9948, Econet added $0,0690 to set­tle at $2,1311 and Sim­bisa in­creased by $0,0248 to $0,6748. In­sur­ance gi­ant Old Mu­tual was $0,0235 stronger at $6,5038 and African Sun was up by $0,0230 to trade at $0,1390.

The gains were par­tially offset by losses in Innscor which traded $0,0499 lower at $1,6001, RioZim dropped $0,0150 to close at $1,8750 and Bin­dura shed $0,0109 to set­tle at $0,0711 and CBZ eased $0,0050 to trade at $0,1555.

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