THE Vendors Initiative for Social and Economic Transformation (Viset), in collaboration with the Labour and Economic Development Research Institute of Zimbabwe, is pushing for the country's informal sector to be tax compliant in a bid to create a fair and inclusive framework that addresses the challenges faced by formal traders.
Viset held a symposium in Harare recently bringing together key stakeholders to discuss the challenges, risks and opportunities associated with the proposal for players to be tax compliant.
The symposium provided an opportunity for informal traders to engage and express their views to their representatives and government officials on how they can develop and grow in the informal sector.
“The discussions centred on creating a fair and inclusive taxation framework that addresses the unique challenges faced by informal traders,” the statement issued after the symposium read.
“The symposium provided a platform for engagement, fostering participation and feedback from informal traders, government representatives, parliamentarians, local government officials, private sector representatives and civil society organisations.”
The symposium also created a framework for the implementation of the informal sector taxation policy which will monitor revenues and funds to cover their priorities.
“A framework for effective implementation of the informal sector taxation policy was proposed, focusing on monitoring the use of raised revenues and ring-fencing these funds for the support of informal sector growth and priority sectors such as health and education,” the statement said.
It further highlighted the need for increased participation of the informal traders and residents to take account of the new taxation framework.
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“The symposium promoted greater involvement of informal traders and residents in designing and implementing tax policies, fostering a sense of ownership and responsibility towards the new taxation framework,” the statement said.
According to Viset, there is a need for enhanced transparency and accountability in relation to the use of tax revenues collected from the informal sector.
Viset executive director Samuel Wadzai said symposiums played a pivotal role in inclusive dialogues and frameworks in shaping policies that improve the lives of informal traders in Zimbabwe.
“The success of this symposium demonstrates the importance of inclusive dialogue and strategic frameworks in shaping policies that impact the livelihoods of millions of Zimbabweans,” Wadzai said.
“We look forward to continuing this conversation with our local authorities and central government and work towards a fair and equitable taxation system for Zimbabwe’s informal economy.”
