Businesses face hefty fines on fiscalisation

Zimra is charging a daily fine of $25 per till point to all businesses that have failed to meet government’s January cut-off date.

This applies to all companies whose annual revenue exceeds $240 000. However special consideration can be sought from the commissioner-general’s office, who at his discretion can give an extra 30-day window to meet the legal requirements.

Meanwhile its D-Day for banks as The RBZ deadline for banks to meet minimum capital requirements is today. According to RBZ figures only Royal Bank and ZABG are yet to meet the $12.5 minimum capital requirements.-Daily News

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