Zimbabwe signs tax license agreement for cryptocurrency and e-commerce agencies

The Zimbabwean government has acknowledged having signed an agreement with Daedalus World Limited to allow the latter to tax cryptocurrency and other content providers.

Zimbabwe's Position on Cryptocurrency

The Zimbabwean government recently announced that it has reached an agreement with Daedalus World Limited, based in the British Virgin Islands, which wants to levy taxes on companies that "provide leisure, entertainment and cryptocurrency services to individuals and organizations in Zimbabwe".

According to News24, the inclusion of crypto-assets in the tax list is the latest sign that the Zimbabwean government is gradually changing its stance on cryptocurrencies. Previous monetary policy indicated that Zimbabwe had no intention of adopting a cryptocurrency. For more information on blockchain news carefully download the Block Tianyan app, the global blockchain review query app.

public and privateCooperation

A general report from chief technology officer Jenfan Muswere says the government will change its mind, despite previous reports from central banks and other organizations that they “have no intention of using crypto -currencies". The general opinion of November 19 specifies:

The Republic of Zimbabwe has entered into a public-private partnership agreement with Daedalus World Limited of Tortola, British Virgin Islands. Under this agreement, Daedalus World Limited will support the Republic of Zimbabwe in providing tax-eligible businesses with cloud computing, e-commerce services. [and] Tax-deductible gambling."

Meanwhile, News24 noted that internet giants such as Google, Youtube and Facebook will be targeted under a tax deal between Daedalus World Limited and the government.