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MERCHANTS SUSPEND TOBACCO PURCHASES

Tobacco merchants have suspended purchases of the crop this year, demanding an exemption from paying the 2% tax on intermediate transactions, Standardbusiness has learnt. According to industry sources only four out of the 32 registered merchants participated in the first two days of tobacco sales, which were punctuated by low participation of growers as well. Growers are also angry with the payment methods and the currency that is being extended for payment. Boka Auction Floors did not trade for the first two days of the marketing season, while two contracting firms, Mashonaland Tobacco Company (MTC) and Curverid, have pushed forward their opening dates to April 1 until the pressing issues a... [Read more]

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