Zimbabwe, Zimplats seal tax debt offset deal

Zimbabwe entered a tax-for-export surrender-debt offset deal with platinum miner Zimplats, allowing the company to use government debt to settle tax and other obligations. Zimplats described the arrangement as achieving 'significant' progress on resolving the delayed payments issue. The deal links Zimplats' export proceeds to Zimbabwe's fiscal obligations. It allows Zimplats to offset government debt against tax obligations. Zimplats said the arrangement will apply to outstanding government debts.