Leonard Ncube in Victoria Falls A TOTAL of 22 fuel service stations have been prosecuted since the beginning of the year for operating without licences as the Zimbabwe Energy Regulatory Authority (Zera) descends on illegal fuel dealers. This comes at a time when the energy regulator has been accused of failing to weed out fuel […]
Kiyapili Sibanda, Business Reporter THE Zimbabwe Energy Regulatory Authority (Zera) is seeking an amendment to the Petroleum Act to tighten penalties for illegal possession and dealing in petroleum products. The existing legislation presently provides for the establishment of the Petroleum Regulatory Authority whose function is to license and regulate operations in the petroleum industry. Speaking […]
October 13, 2017 Staff Reporter Business 0 HARARE,– Zimbabwe’s tax agency says it expects to surpass the $3,7 billion revenue target by at least 15 percent, as it ups collection efforts. In the half year to June 30, revenue inflows amounted to $1.7 billion which was 8 percent above target and 974 percent higher than […]
Herald Reporter TRUCKS passing through Zimbabwe are now expected to follow stipulated routes and use designated truck stops as Government intensifies efforts to eliminate transit fraud. On Friday, Government gazetted Statutory Instrument 127 of 2017, which — through the Customs and Excise (Ports of Entry and Routes (Amendment) Order, 2017 (No 16) — designates 23 routes […]
THE Zimbabwe Revenue Authority (Zimra) says transit traffic has dropped by 60% since the introduction of the Electronic Cargo Tracking System (ECTS), showing many were involved in transit smuggling. BY TATIRA ZWINOIRA The ECTS was introduced in May in order to help curb smuggling, which is costing an average of $1 billion in annual government […]
September 5, 2017 Staff Reporter Business 0 HARARE,– Zimbabwe’s tax agency on Tuesday said it surpassed its August revenue target of $267. 66 million by 15 percent due to automation and an anti-corruption drive. Zimbabwe’s national budget is entirely funded by taxes and borrowings from local banks because it cannot borrow from foreign financial institutions […]
Engineer Gloria Magombo Harare Bureau THE Zimbabwe Energy Regulatory Authority has moved closer to ending smuggling of fuel into Zimbabwe following the close of window yesterday for submission of private tenders for marking of all imported fuel. Marking of fuel, Zera said, will make it easy to detect all irregular fuel imports, which will compel […]
Tawanda Musarurwa and Conrad Mwanawashe ZIMBABWE could be losing at least $240 million annually to fuel fraud while globally at least $40 billion is lost to smuggling activities associated with subsidies, tax and price differentials worldwide. Smuggled and stolen fuel deprives governments of tax revenue. According to a leading global authentication and information services company, Authentix […]
ZIMRA offices Thupeyo Muleya Beitbridge Bureau The Zimbabwe Revenue Authority (Zimra) has smashed a massive fuel smuggling scandal at Beitbridge Border Post after it intercepted two tankers carrying over 40 000 litres of petrol worth over R233 000. The petrol had been declared as Jet A1 fuel. Petrol attracts $0,45 per litre in excise duty, […]
Minister Chinamasa Business Reporter— Entry into cargo in transit declined by 62 percent since Government introduced the electronic cargo tracking system in a bid to curb smuggling and transit fraud of goods at border posts. Finance and Economic Development Minister Patrick Chinamasa officially commissioned the country’s first anti-smuggling, transit fraud detection and curbing electronic system on […]