The Zimbabwean government has reviewed commodity taxes, which were introduced in the 2024 national budget, amid concerns over rising prices.

RELATED:
Zimbabwe: Parliamentary By-elections With Banned Opposition

In a statement on Monday night, Zimbabwe’s Minister of Finance, Economic Development and Investment Promotion Mthuli Ncube said some basic goods will be excluded from a 15 percent Value Added Tax (VAT).

“Basic food items that include bread, milk, cooking oil, mealie meal, salt, sugar, flour, are exempt from VAT purposes, hence there should be no price increases (with them),” he said, adding that other basic commodities including meat, rice, bath and laundry soap, washing powder and toothpaste have been moved to standard rating, which means price increases should be minimal.

“Retailers can buy directly from manufacturers as long as they have a valid tax clearance certificate and are VAT registered,” Ncube said.

The tax adjustments came after the treasury constituted a technical committee to gather feedback on the new tax measures from business entities under the umbrella body of the Confederation of Zimbabwe Industries.

Last week, the Zimbabwe Revenue Authority, the body responsible for collecting taxes and other revenue streams for the government, announced new measures that permitted only tax-compliant wholesalers to procure directly from manufacturers.

• 
  Zimbabwe: UN Women for Social Enterprises Role, Gender Equality
  
• 
  Zimbabwe: Cholera, Authorities Call for Hygiene Practices
  
• 
  Seminar on China-Africa Relations Development Held in Zimbabwe
  
• 
  Zimbabwe: 68 New Cases of Cholera in First 5 Days of November
  

EN ESTA NOTA:

Comments

teleSUR comments

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Comment *

Name *

Email *

Website

Save my name, email, and website in this browser for the next time I comment.

Δ