Stiff Penalties For Traders Pricing Goods and Services in Foreign Currency
The government has placed a $6 000 fine for trader demanding forex payments for goods and services.
The recent pricing crisis on the market were retailers are violating national regulation charging foreign currency which has resulted in civil penalties for forex payment as government uses Statutory Instrument (SI) 212 of 2019 exchange control (exclusive use of Zimbabwe Dollar for Domestic Transactions) regulations 2019 published last Friday to stop traders from violating government regulation on foreign currency,
The new regulations make it illegal for one to pay or receive payment in foreign currency in any domestic transaction and failure to comply with the law will result in a $6 000 fine with an additional $100 daily for each day of default.
It has become a civil offense to display, charge and to solicit payment for goods and services fees in any other foreign currency.
You may be interested in these stories:
Its Now a Crime to Quote, Charge or Receive Payments in USD According to new Regulations
Latest Prices of Basic Goods/Groceries 28/09/19
You can see the latest Zimbabwean tenders by clicking here
If you want to be added to our WhatsApp broadcast list please save our number +263 775 378 769 and then text ‘Add’ to that WhatsApp number. If you don’t save the number you will not get our broadcasts when we publish new content.
