HomeNewsGraphic: Chinamasa's Mid-term fiscal policy review highlights

Graphic: Chinamasa’s Mid-term fiscal policy review highlights

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A graphic portrayal of some of the highlights of Finance Minister Chinamasa's Mid-term fiscal policy review. By Tapiwa Zivira, Online Reporter
A graphic portrayal of some of the highlights of Finance Minister Chinamasa’s Mid-term fiscal policy review. By Tapiwa Zivira, Online Reporter

  • Tax evaders given six-month amnesty to disclose and repay tax obligation
  • Finance minister proposes to empower Zim to pursue individuals — retiring or serving — who owe tax obligations
  • 5% levy on voice and data tariffs effective October 1, duty on handsets and related gadgets hiked to 25%
  • Gold royalties slashed to 5% from 7% from October 1. Presumptive tax on small-scale gold miners scrapped
  • $73 million has been disbursed for Victoria Falls Airport, $38 million farm equipment first batch has been received
  • Government to mobilise $252,3 million for Presidential input scheme 2014/15
  • Government to provide $184 million for inputs
  • Amended the amount subject to withholding tax on tenders from $250 per transaction to an aggregate of $250 per year of assessment.
  • Repealed the older definition of fiscalised devices provided for in the Finance Act of 2012.
  • Removed foodstuff, washing preparations and beverages goods from the Duty Free Certificate facility, with effect from October 1 2014
  • Reviewed downwards, royalty on gold produced by primary producers to 5% from 7%.
  • Reduced presumptive tax on small scale gold miners to 0% from the current 2% effective October 1 2014
  • Levy customs duty on mobile handsets at a rate of 25%, with effect from 1 October 2014.
  • Levy excise duty of 5% on air time for voice and data, with effect from 15 September 2014.
  • Increase excise duty on diesel and petrol from 25 and 30 cents per litre to 30 and 35 cents per litre, respectively, with effect from September 15.

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