Stories

Parliament has asked the government to suspend the 15 percent valued added tax on foreign tourists with effect from 1 August 2015 until 2019 to allow the sector to recover and potential dividends from the United Nations World Tourism Organisation summit held at Victoria Falls two years ago to pay off.

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The opposition Movement for Democratic Change led by Morgan Tsvangirai has rubbished reports by The Herald that the party has been summoned by Western governments to receive funding and brief them on political developments in Zimbabwe saying this is a ploy to deny the party funds it expects to receive under the Political Parties (Finance) Act.

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The government is planning to implement cost reflective power tariffs — under which higher users will pay more — to reduce the high consumption of energy in the country which is battling power shortages, an official said yesterday.

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Zimbabwe’s road authority says it will seek government invention to reverse a decision by Harare City Council to reject a deal in which the local authority could access more than $200 million to finance rehabilitation of the capital’s decaying road network.

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Bermuda-headquartered platinum miner, Aquarius Platinum said production at its 50 percent owned Zimbabwe unit, Mimosa Mine, reached a record high of 60 035 ounces for platinum group metals (4E) in the fourth quarter to June, but revenue fell two percent to $62 million as metal prices continue to fall.

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Zimbabwe’s largest mobile phone operator Econet Wireless says failure to pay interconnection fees by its state-owned rivals —  NetOne and fixed line phone operator TelOne amounting to over $26 million in the last five years — could paralyse the telecoms sector.

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The government has given diamond mining companies in Zimbabwe just weeks to submit their audited financial statements before they merge into one mining company-the Zimbabwe Consolidated Diamond Company.

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In another blow to workers, the Supreme Court, which recently said employers could fire workers on three months’ notice without any retrenchment package, yesterday ruled that housing, education and other allowances were not a right to workers.

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Zimbabwe’s central bank says electronic payments are expected to reach $50 billion by the end of the year as the country’s mobile money sector continues to grow in both volumes and value.

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The government says the Victoria Falls Town Council was justified in effecting a 650 percent increase in levies early this year, despite complaints from ratepayers, Parliament heard today.

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