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*Zimbabwe 2017 National Budget Highlights and Talking Points* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?qg Finance Minister Patrick Chinamasa will be presenting the 2017 National Budget before Parliament today. We will be updating you with the major talking points as the budget is presented: ---------- Latest itel S24 available on Pindula: 128GB storage $119 USD WhatsApp +263783450793 ---------- [updates] -Chinamasa proposes that Parrafin pays a duty of 40c per litter from 1 January 2017 -Companies in Special Economic Zones will be given tax breaks which include exemption from corporate tax for the first 5 years. After that to pay 15 percent corporate tax compared to the current 25%. -Chinamasa proposes penalties for business owners who do not connect to the ZIMRA fiscal system -Chinamasa proposes 5% levy on all airtime and data to go towards a Health Fund. -Chinamasa proposes to increase custom duty on selected fabrics -Loud cheers from MPs after Chinamasa proposes duty-free importation of raw materials to manufacture sanitary wear. -Chinamasa proposes to remove school uniforms from the general import licences -Firebrand Norton Legislator Temba Mliswa interjects by shouting: President must walk the talk on corruption! -Chinamasa proposes to freeze increase on charges by government institutions, water, power. https://twitter.com/OpenParlyZw/status/806852598796054528 https://twitter.com/rossgrounded/status/806854047844147200 -Chinamasa has urged that government makes joint ventures in order to recapitalise mining operations. -Minister has postponed the 15% tax that will be levied on platinum exports. It will start in December 2017 and not January 2017 as planned initially -Chinamasa allocates $50 000 for the Constinuency Development Funds. However one MP shouts that even though the money is allocated, they(MPs) never get it as it is never disbursed -Uproar in parliament as MPs are unhappy with the budget of $30.7 million which they regard as too little. Chinamasa has to shout to be heard. Speaker comes to his aid by calling for order -Office of the President and Cabinet allocated $175 million and Parliament is allocated 30 million. > Health is too low. 170mill for govt office vs 200mill for health. Smh. https://t.co/kf2ihLoDIN > — Tidz M (@tidzo) December 8, 2016 -Top 3 allocations Primary & Secondary Education = $803.7 million Home Affairs = $364 million Defence = $340 million -Government expects $3.7 billion in 2017 revenue, but plans to spend $4.1 billion leaving a $400 million deficit. -Government employment costs took up $2.6 billion between January-October 2016, 92 percent of total revenue. > With 91% of total expenditure going towards the wage bill , the economy is a prisoner of ZANU ghost workers .Reform starts with #ZanuGhosts > — TENDAI BITI (@BitiTendai) December 8, 2016 -The 2015 civil servant bonus payments, paid over in 2016, took up $177.8 million during 2016 -Zimbabwe spent $512.6 million on paying off debt in 2016 and $253.5 million on grain imports due to the drought. -Zimbabwe registered a $1.1 billion budget deficit in 2016, a $400 million deficit is expected in 2017 -Zimbabwe plans to spend $4.1 billion in 2017 itel A50 now available on Pindula at $84 64GB storage, 2GB RAM. _ideal for light usage_ _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
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