The Government will now tax Zimbabweans and anyone else who owns houses in Zimbabwe, 1 percent of the house’s value.
This means that if one’s house is worth
US$$400,000, they will pay US$4000 a year to the State.
This was disclosed by Minister of Finance and Economic Development Mthuli Ncube while presenting his 2024 national budget to parliament this afternoon.
Apparently, this also means that with immediate effect of that tax coming in, rentals will also go up in Zimbabwe as property owners will simply pass on the tax to their tenants.
After about 10 years of paying that tax, a person who owns a house worth US$400,000 will amount to US$40,000 or even more as the house value appreciates.
Residents of Mvurwi were left in shock by a disturbing incident involving a man caught… Read More
The Zimbabwe Republic Police (ZRP) has reported a sad incident which occurred at a house… Read More
The Reserve Bank of Zimbabwe -RBZ- has released the latest prices for the gold coins… Read More
In the world of sports performance enhancement, athletes are constantly seeking new methods to gain… Read More
Zimbabwean beauty queen, Nokutenda Marumba is in the top five at the Miss World Head… Read More