Zimbabwe has no shortage of money. The problem is mismanagement of that money- MP says

The fifth reason is that this idea is a repetition of what has been done already. When we talk about businesses, we would be talking about big businesses like Bata, Coca-Cola, David Whitehead and other organisations that were in existence in the past. You would find that businesses we are talking about are small businesses, SMEs and small poultry projects, sewing projects, textile projects and small miners. These are people who are not making profits, they are just struggling. If we take 5% from these small businesses, it will affect their viability

The sixth reason, this is counter-productive and it is against the basic tenets of NDS1 and NDS2 which are the frameworks that we use as a nation and which make Zimbabwe open for business. The moment we start charging exorbitant amounts, it means that we will be discouraging investors and prospective businesses because doing business in Zimbabwe will become very expensive.

The seventh reason, the issue of development is the responsibility of the Government, which is why the Government is responsible for collecting taxes through pay and other taxes. If we decide to create a community share ownership scheme, then we would be saying that the Government has failed in its responsibility. The tax that is normally collected is meant for development. We cannot continue taking and we cannot take an extra 5% from businesses.

The ninth reason is that it is against what we are supposed to be doing as the Government. Instead of taking money from small businesses, instead we are supposed to be injecting finances into small businesses, as the Government likes what is happening in other countries where small businesses are capacitated. When businesses do not have Government support, then they are bound to be insolvent and this will affect even employment creation and those that are employed already. The 10th reason why I do not agree with this is that businesses are already remitting their taxes, for example, a business in Kadoma is already paying their taxes to the Kadoma City Council. They are making their contribution towards the local council. So, there is no reason why they should add on to what they are already paying or remitting. Lastly, let me say that Hon. Speaker, the issue of community share ownership on paper is attractive but when you look at the prevailing economic environment in Zimbabwe, this is not sustainable and this would affect businesses. I thank you.

See contribution from legislator supporting introduction of the act

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