In a typical example of how the government could be losing thousands of dollars through tax evasion, the High Court in Bulawayo, recently heard the case of a company that intended to purchase a property in Binga for $450 000 but would reflect a purchase price of $300 000 while the remainder was to be paid in cash “under the table.” The deal backfired when the seller was offered $500 00 cash by another buyer, but he was still taken to court to show cause why he should not sell to the company which engineered the deal and had entered into an agreement of sale first.
Zimbabwe is likely to lose out on a new coffee agreement arranged by Latin American and African farmers recently to by-pass existing middlemen and make supplies direct to international markets thereby almost doubling revenue from the crop sales.
The Zimbabwe Broadcasting Corporation, which was given a grant of $9.85 million to cover some of its losses and to help run Television Two and Radio Four, seems to be having cashflow problems.
The recent increase in the producer price of cotton coupled with the fact that the Cotton Marketing Board itself has become one of the first agricultural parastatals to operate at a profit should be encouraging news to all farmers though this will obviously be dampened by the uncertain future due to the current drought.
The acute shortage of urban residential accommodation of all types throughout the country continues to deteriorate.