Wednesday , September 28 2022

A high-level African Indaba tax set for Vic Falls



Business editor

This week, ZIMBABWE will host a two-day high-level tax policy conference in Victoria Falls to help regional member states react adequately to the digital economy.

The African Tax Administration Forum (ATAF) and the Zimbabwean Revenue Administration (Zimra), supported by the African Development Bank (AfDB), are organizing the event to be held at a hotel on Wednesday and Thursday.

The Minister of Finance and Economic Development Professor Mthuli Ncube will be a key spokesman with his regional partners, the ATAF, the leaders of the African Union and the World Bank. Commissioners of African tax administrators and local business leaders will also take part.

As a member of ATAF, Zimbabwe hosts the event on the basis of the successful renewal of the ATAF membership mandate last year's annual event. This year, the regional tax authority has prioritized the development of Africa's response to the taxation of the digital economy.

"Many African countries have reported concerns about the tax challenges they face as their economies are becoming more and more digitized," says ATAP.

"The challenges arising from digitization affect both direct and indirect taxes. From a direct tax point of view, the discussion is whether current international tax rules adequately respond to the problems created by the digital business, such as social media, market platforms and search platforms.

"With regard to indirect taxes, service consumption can take place in different parts of the world, which creates a problem where taxes are taxed."

As such, the ATAF stated that the purpose of this high-level dialogue is to bring together key stakeholders both in the Treasury and the Tax Administration to create a proposed network to ensure coherent tax and tax administration policies and solutions actions in a constantly changing situation. global tax environment.

"Through a consultation process and dialogue, the meeting will outline priorities, as well as important tax issues, for cooperation between the Treasuries and Tax Administrations. Thus, the framework will establish a critical engagement with regard to the objectives, impact and implementation of key policies, "he said.

Source link