Businesses Using Black Market Rates Warned

Businesses that are using black market rates on foreign exchanges instead of the auction rate will be hunted down next week as Government launches a blitz on this practice.

Finance and Economic Development Deputy Minister Clemence Chiduwa said they will start with larger businesses.

Traders have also been given until tomorrow to issue foreign currency denominated receipts whenever they receive foreign currency for goods and services so that their tax liabilities are paid in the currencies they receive.

More news here: Herald


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