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Zimbabwe signs agreement allowing tax collection from crypto and e-commerce companies – taxes
The government of Zimbabwe has confirmed the signing of an agreement with Daedalus World Limited, allowing the latter to collect taxes from crypto and other content providers. Zimbabwe’s Stance on Crypto The Zimbabwean government recently said it had reached an agreement with British Virgin Islands-based Daedalus World Limited under which the latter is expected to collect taxes from companies that “offer betting, gambling and cryptocurrency services to individuals and entities within the territory of the Republic of Zimbabwe.” According to News24 audit report, the addition of crypto assets to the tax list is the latest signal from the Zimbabwean government that suggests the country is changing its stance on cryptocurrencies...
Zimbabwe signs agreement allowing tax collection from crypto and e-commerce companies – taxes
The government of Zimbabwe has confirmed the signing of an agreement with Daedalus World Limited, allowing the latter to collect taxes from crypto and other content providers.
Zimbabwe's stance on crypto
The Zimbabwean government recently said it had reached an agreement with British Virgin Islands-based Daedalus World Limited under which the latter is expected to collect taxes from companies that “offer betting, gambling and cryptocurrency services to individuals and entities within the territory of the Republic of Zimbabwe.”
According to News24 Test report, the addition of crypto assets to the tax list is the latest signal from the Zimbabwean government that suggests the country is gradually changing its stance on cryptocurrencies. How reported From Bitcoin.com News, the country's monetary authorities have previously said that Zimbabwe has no plans to adopt cryptocurrencies.
Public-private partnership
Despite these earlier statements from the Central Bank and others, a general announcement from Information Technology Minister Jenfan Muswere may indicate that the government has had a change of heart. The general notice dated November 19 states:
“The Republic of Zimbabwe has entered into a public-private partnership agreement with Daedalus World Limited of Tortola, British Virgin Islands, under which Daedalus World Limited will assist the Republic of Zimbabwe by providing a service to collect revenue through the taxation of qualified businesses providing digital advertising, content, cloud computing, e-commerce [and] gambling.”
Meanwhile, a report from News24 says that internet giants such as Google, YouTube and Facebook are being targeted as part of Daedalus World Limited's tax collection agreement with the government.
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