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The Zimbabwe Revenue Authority (ZIMRA) has initiated a nationwide operation targeting businesses that evade taxes and undermine the use of the Zimbabwean dollar (ZiG) by either rejecting it or falsely claiming that their Point of Sale (POS) machines are out of service.
The blitz is part of efforts to enhance resource mobilization to fund national projects in line with the National Development Strategy.
In a statement released yesterday, ZIMRA announced the launch of an automated, confidential whistleblowing platform aimed at cracking down on companies that are stifling the demand and usage of the local currency by forcing consumers to pay exclusively in foreign currency.
The move follows President Mnangagwa’s warning earlier this week to economic saboteurs, assuring the public that his government will protect citizens from businesses exploiting the economy for profit.
The ZIMRA crackdown comes amid growing concerns that some businesses are inflating prices by selling goods exclusively in foreign currency, despite publicly displaying prices in ZiG.
These practices have contributed to the recent depreciation of the ZiG against the US dollar on the black market, despite initial successes when the currency was launched in April 2024.
ZIMRA emphasized the importance of public cooperation in tackling these issues. “Zimbabwe has been on a significant growth trajectory in infrastructure development through the construction of roads, dams, and schools, enabled by domestic tax revenue mobilisation,” reads the statement. “The Zimbabwe Revenue Authority (ZIMRA) is calling on the public to partner with us in the fight against tax evasion and smuggling.”
The statement further encouraged individuals and businesses to report malpractice, particularly cases where companies refuse to trade in local currency or falsely claim that their POS machines are out of service to push for US dollar payments. “The whistleblowing platform is safe, secure, and all data will be handled with confidentiality,” ZIMRA assured.
Zimbabwe National Chamber of Commerce CEO, Mr. Chris Mugaga, emphasized the importance of collective efforts to defend the ZiG. “The market must defend the ZiG because if the local currency fails, it will undo all efforts toward a self-sustaining economy,” he said, adding that while ZIMRA’s actions are commendable, they address only the symptoms of deeper economic issues.
The crackdown comes at a time when some businesses have been accused of pegging prices based on black market rates, further driving up the cost of goods and services.
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