7 Things That Stood Out In Zimbabwe’s Mid-term Fiscal Policy Review 2015…

The Minister of Finance, Patrick Chinamasa presented the Mid-term Fiscal Policy Review for 2015. A number of items were of interest, but 7 items stood out for us:

1. Used Car Imports

Used Japenese Cars

Surtax has been increased from 25 to 35 % on second hand cars imported five years after the date of manufacture
Image Via: Japanese Cars

2. Used Clothing Imports

Clothing bales

Government to ban the importation of second had clothes effective September 1, 2015
Image Via: Nairaland

3. Travelers Rebate – Groceries

Cars carrying goods

Basic goods such as groceries have been removed from travellers rebates effective August 1
Image Via: ZimGossips

4. Mining Tax

Gold panners

Royalties for small scale gold miners have been reduced from 3% to 1%
Image Via: Chronicle

5. Tax Amnesty

Zimra logo

Tax amnesty has been moved by four months to the monthend of October.
Image Via: Chronicle

6. Church Taxes

Zimbabwe church service

Churches are not going to be taxed on tithes but other income generating projects are liable to taxation
Image Via: AFMinZimbabwe

7. Government Employees

Black teacher

Government to retrench in order to cut the wage bill which at present is taking up to 83% of government revenue
Image Via: BBC

Main Image Credit: The Source

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