Zimbabwe: Rice dealers seek minister intervention on VAT

Published 2021년 1월 14일

Tridge summary

Rice supply chain players in Zimbabwe are seeking Finance minister Mthuli Ncube's intervention over VAT policy inconsistencies. In 2017, late Finance and Economic Development minister Patrick Chinamasa exempted rice from VAT to stabilize prices. However, suppliers and packers of 25kg bags or less have been demanded to pay VAT from 2017 by the Zimbabwe Revenue Authority. Since the exemption, VAT has not been charged by retailers and the Grain Marketing Board. The Grain Millers Association of Zimbabwe (GMAZ) and the Confederation of Zimbabwe Retailers have called for an urgent meeting with the minister to address the issue. They have also warned that reinstating VAT on rice will lead to price increases and potential company liquidations due to backdated VAT payment amounts.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Source: Rice dealers seek minister intervention on VAT | Newsday (News) BY MIRIAM MANGWAYA PLAYERS in the rice supply chain are seeking Finance minister Mthuli Ncube’s intervention on policy inconsistencies in the payment of value-added tax (VAT) on rice. Rice was exempted from paying VAT in 2017 by the then Finance and Economic Development minister Patrick Chinamasa in a bid to stabilise the price of the basic commodity. However, suppliers and packers of 25kg bags or less have received demands for VAT payment dating back to 2017 from the Zimbabwe Revenue Authority. All retailers and players in the supply chain including the Grain Marketing Board have not been charging VAT since the exemption order was pronounced by the then minister in 2017. The Grain Millers Association of Zimbabwe (GMAZ) and the Confederation of Zimbabwe Retailers requested an urgent meeting with the minister to resolve the issue. In a statement, GMAZ acting general manager Garikai Chaunza said the outcome of ...

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