Categories: Zim Latest

Finance technical committee on 2024 National Budget present findings, as Mthuli Ncube U-turns on VAT

The Minister of Finance and Economic Development technical committee on the impact of 2024 National Budget and revenue measures has presented its findings.

Meanwhile, according to Finance Minister Mthuli Ncube, the committee’s findings will help the government in implementing the budget.

Meanwhile, Minister Ncube has made changes to his measures on trading, VAT, and basic commodities. Highlights:

• Retailers can buy from manufacturers, as long as they’re tax compliant.

• Manufacturers can sell to informal traders, and a 5% withholding tax will apply.

• More basics added to list of groceries exempted from VAT, but others such as meat now on “standard rating”




Recent Posts

Army captain, 3 police officers arrested for robbing Chinese national US$60 000

A Zimbabwe National Army (ZNA)'s 3 Brigade Captain and three Mutare-based policemen have been arrested… Read More

4th March 2024

President Mnangagwa returns to Vic Falls

President Emmerson Dambudzo Mnangagwa has arrived for the official opening of the 56th Session of… Read More

4th March 2024

Invictus Energy discovers high quality gas, petroleum products in Muzarabani

Geo Associates and Invictus Energy, who are exploring for oil and gas in the Muzarabani… Read More

4th March 2024

2 killed, 2 others injured in Nissan NV350, kombi head-on collision

The Zimbabwe Republic Police (ZRP) has confirmed a fatal road traffic accident which occurred recently… Read More

4th March 2024

Allow foreign ownership of local telecommunications- WB tells Zim

Zimbabwe should let telecom operators charge economic tariffs to allow them to invest, the World… Read More

4th March 2024

I’m in process of forming new government- implies Chamisa

Opposition politician Nelson Chamisa yesterday revealed that he had personally embarked on grassroots campaigns in… Read More

4th March 2024