Zimbabwe News and Internet Radio

Companies squeal as Zimra brings another gadget

By Garikai Mafirakureva | Masvingo Mirror |

The introduction by Zimra of a new Electronic Signature Device (ESD) gadget barely a year after the authority introduced two other expensive gadgets for transaction recording has placed small businesses under immense financial pressure.

Last year Zimra ordered companies to buy two Fiscalised Electronic Registers (FER), one for foreign currency and another for RTGS gadgets at a cost of US$500 each and small business entities whose revenue collection is not only small, but in local currency struggled to raise the money and many entered into high gearing.

The ESD which Zimra is just introducing and cost between US$500 and US$800 has seen many companies failing to collect money from debtors as those that owe are now demanding receipts generated from an ESD. Some companies are borrowing in order to buy the ESDs and those that are failing to raise the money watch haplessly as the money they are owed quickly lose value to inflation.

According to ZIMRA explanation, Fiscalisation refers to configuring of fiscal devices to enable them to record sales and other tax information on the read only fiscal memory at the time of sale for use by ZIMRA in Value Added Tax administration.

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All other operators who are required to use such devices but who are not retail operators are required to use, an electronic signature device; a Fiscalised electronic register; or a non-Fiscalised electronic register together with a fiscal memory device.

Zimra head of corporate communications, Francis Chimanda confirmed the new devices and said further questions should be send through email.

“Yes, I can confirm Zimra has a variety of gadgets that are in use by various companies, but those who know more about them are in a meeting right now. I can only give you a detailed response on Monday,” said Chimanda.

Both the Minister of Finance of Finance and Economic Development could not be reached for comment as their mobile phones went unanswered.

There are also fears from some quarters that senior managers at Zimra in Harare could be fleecing the business community of their hard eared cash by introducing these gadgets which are then sold through agencies where they have an interest.

The current list of suppliers includes Microwarehouse (Private) Limited, Masvingo-based Axis Solutions (Private) Limited, Rumikon Computers (Private) Limited t/a Matrix Warehouse Computer, Global Horizons (Private) Limited, Fiscal Revenue Solutions (Aura Group), Fiscal Support Services, Just IT, and Zimbabwe Revenue Authority (ZIMRA).