ZIMBABWE plans to introduce regulations that will require businesses to settle a portion of their taxes in ZiG to boost the new bullion-backed currency that’s had a “positive impact” on the economy, the finance minister said.
The “Treasury is stepping up to complement the fiscal and monetary policy framework aimed at further anchoring the currency, exchange rate and price stability,” Mthuli Ncube said in an emailed statement on Wednesday.
A policy has been in place since 2020 that allowed taxes to be settled in the currency businesses mostly traded in. The new system will specify what ratio of taxes will need to be paid in ZiG and foreign currency, and those that can only be settled in the new unit. – bloomberg