Zimbabwe Signs Agreement Enabling Collection of Taxes From Crypto and E-Commerce Entities – Taxes Bitcoin News

The Government of Zimbabwe confirmed that it had signed an agreement to Daedalus World Limited. This allows the latter tax collectors crypto and content providers.

Zimbabwe’s Stance on Crypto

The Zimbabwean government recently said it had entered into an agreement with the British Virgin Islands-based Daedalus World Limited wherein the latter is expected to collect taxes from companies that offer “betting, gaming and cryptocurrency services to persons and organisations within the territory of the Republic of Zimbabwe.”

A News24 report claims that the Zimbabwean government is slowly changing its position on crypto assets by including them in their tax list. As reported by Bitcoin.com News, the country’s monetary authorities have previously said Zimbabwe is not planning to adopt cryptocurrencies.

Public-Private Partnership

Although these statements by the central banks and other institutions have been made in the past, Jenfan Muswere published a general notice that suggested the government had changed its mind. According to the general notice, November 19, it states:

“The Republic of Zimbabwe entered into a public-private partnership agreement with Daedalus World Limited of Tortola, British Virgin Islands, in terms of which Daedalus World Limited will assist the Republic of Zimbabwe by providing a revenue collection service through taxing qualifying companies that provide digital advertising, content, cloud computing, e-commerce [and] gambling.”

Meanwhile, a News24 report states that as part of Daedalus World Limited’s tax revenue collection agreement with the government, internet giants like Google, Youtube and Facebook will be targeted.

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Terence Zimwara

Terence Zimwara, a Zimbabwean journalist, writer and author who has been awarded the Zimbabwe Booker Prize. His writings have covered the economic problems of several African countries and how digital currency can offer an escape route.