Pindula
Register Login

Tax-free Bonus Threshold Raised To $100 000

Tax-free Bonus Threshold Raised To $100 000

Finance and Economic Development Minister Mthuli Ncube has raised the local currency tax-free bonus threshold from ZWL$25 000 to ZWL$100 000.

Presenting the 2022 national budget statement in Parliament on Thursday afternoon, Ncube also announced an increase in the foreign currency tax-free bonus threshold from US$320 to US$700. Said Ncube:

I also propose to review the local currency tax-free bonus threshold from ZWL 25 000 to ZWL 100 000 and the foreign currency tax-free bonus threshold from US$ 320 to US$ 700, with effect from 1 November 2021.

Ncube also proposed to raise the excise duty on cigarettes, saying this will help to curb illicit flows and also mobilise additional revenue to the Fiscus. He said:

In order to benchmark excise tax rates with the practice in the region, thereby curbing illicit flows and also mobilise additional revenue to the Fiscus, I propose to increase excise duty on cigarettes from 20% + US$5.00/1000 cigarettes to 25% + US$5.00/1000.

I, further, propose to introduce a flat rate of excise duty on energy drinks at a rate of US$0.05/litre, or the local currency equivalent.

Incidences of non-communicable diseases, in particular, cancer, diabetes and hypertension are on the increase.

More: Pindula News


Share Article

Sponsored

More

7 Comments

Chatunga 5 months ago

Ngaapinde hake Tendai Biti, njuga dzaremera Ncube.


Kode 5 months ago

Kuvhundutsa vanhu vanhu vanovhundukakaaa budget raitwa inZWL not in USD so mazifigures ese ayo lets use blackmarket rates or interbank rates tizive chokwadi chiripo .#changamu


S 5 months ago

Aaaaaaa yooo ndiko kunonzi ku dhakwa kwe economy. From billions to trillions. kkkkkkk Kuseka nhamo serugare chokwadi. Zimbabwe inogara né Drama when it comes to economy. Mukati zvichachinja here izvi. Imboisai George Information ku Finance. Awawate nezve mari kuti madhara ake ari kuzvifambisa sei. SHAME.


Chapwititi 5 months ago

Mafigures akuenda kumaQuadrillion,zvadhakwa.


Tentin 5 months ago

Zvadhakwa. Yazododha dollar riye


Tsivo 5 months ago

Ringori dhiri rekuda kufadza ma civil servants.


Baba Chanana 5 months ago

Kkkkkk pane zvazvinoreva from $25000 to $100000 ndopanonzi zvibvunze agere ipapo kkkkk



Leave a comment


Recent News


News Categories



Give us a Feedback