Zimbabwe agents start quoting in US dollars

The weak Zimbabwe dollar, which recently firmed to 16 against the United States dollar but which is expected to decline steadily, has led to a general switch by shippers and forwarders to quoting in U.S. dollars.
Says Sandy Walsh, c.e of the Shipping and Forwarding Agents Association of Zimbabwe: We are recommending to members that they quote in U.S. dollars but bill in local currency. Because of the recent collapse of the currency and its upheavals, agents are finding it very difficult to set constant and realistic rates.
There is no compulsion on companies as to how they quote - they are free to do as they choose.
The shipping and transport industry continues to suffer from the confusion over the removal of sales tax concessions for intermediate sellers. Sales tax is being levied at each stage of a transaction, leading to double and triple tax.
Until VAT becomes a reality - and no-one seems to know when that is - the confusion will continue, says Walsh.
By Martin Rushmere