Zimbabwe announced an increase to the standard value-added tax rate, from 14.5 percent to 15 percent, a move which will see hike in commodities prices.

This is contained in the 2023 Budget and the new rate hike took effect yesterday.

This includes a supply of imported services, importation of goods and motor vehicles sold by persons who are motor dealers.

Meanwhile, the Zimbabwe National Road Administation, a parastatal under the Ministry of Transport and Infrastructural Development has suspended two toll gates.