Zimbabwean government to collect tax from British crypto services
Zimbabwe signed an agreement to allow outsider crypto-related services providers to give services with the provision of tax rules.
Crypto and blockchain technology are enabling online services to push the reach in the whole world without any limit of the fiat currency type. But these come up with some problems, as per rules and systems of different countries.
A report by News24 reported that the Zimbabwe government confirmed that they signed an agreement with the British Virgin Islands-based Daedalus World Limited. Under this agreement, the Zimbabwe government will collect tax from all crypto Companies, whether they are providing betting, gaming and cryptocurrency services to persons and organizations within the territory of the Republic of Zimbabwe.”
The report also noted that the latest decision by the government of Zimbabwe is a clear indication that the government is changing its point of view on the crypto Industry. However, the Zimbabwe government hasn’t officially stated whether they are going to regulate this industry or not.
Earlier this, in the first week of December 2021, the chief of the Zimbabwe Central Bank, said that the country is not going to adopt cryptocurrencies because we don’t believe in crypto assets.
“As a central bank, we don’t believe in cryptocurrencies. We believe in the central bank digital currency which is trying to say ‘how do we have an e-Zimbabwe dollar as opposed to cryptocurrency.”
However, the country is looking to adopt blockchain technology through CBDC development. In November of last year, the Zimbabwe government said that they are planning for Zimbabwean CBDC, after speculation has been started that country may also consider adopting cryptocurrencies under a regulatory framework.
For the Zimbabwean CBDC development, the Central Bank of Zimbabwe planned to send a team from Zimbabwe to Nigeria. Obviously to understand and develop the CBDC, because Nigeria already developed its CBDC, which is still in the trial phase to see the potential.
Read also: Indonesian Islamic organizations against crypto use
