News
Market
Jobs
About
Contact
List Product
Register
Login
Generate
WhatsApp Message
*2021 National Budget Highlights* *Follow Pindula on WhatsApp for daily new updates* https://whatsapp.com/channel/0029Va84dngJP21B2nWeyM3v?ky The Finance Minister Mthuli Ncube presented the 2021 National Budget yesterday and here are some of the major highlights from the budget themed Building Resilience and Sustainable Economic Recovery: The economy is expected to rebound by 7.4% in 2021 from a consecutive 2-year downturn 150 000 formal jobs lost due to the COVID-19 pandemic are expected to be recovered Year on year inflation is projected to reach 9% by the end of 2021 PAYE tax-free threshold reviewed from ZW$5000 to ZW$10 000 IMTT (2% Tax) tax-free threshold from ZW$300 to ZW$500 Youth Employment Tax Credit reviewed from ZW$500 to ZW$1500 Bonus Tax-Free Threshold revied from ZWL$5 000 to ZWL$25 000 effective 1 November 2020. Excise Duty on Tobacco and Alcoholic Beverages reviewed upwards Cannabis Levy, chargeable on the value of exports, at varied rates ranging from 10 to 20% in line with the level of processing introduced. Govt Introduces a simplified tax regime for self-employed professionals. Suspension of Powdered Milk & Ring-fenced quantities of raw Cheese for the Dairy Industry extended. Duty suspended on motor vehicles imported by Safari Operators and buses for Tour Operators Suspension of Duty on Cross-Border Luxury Coaches extended Rebate of Duty on raw materials imported under the Shoe Manufacturers Rebate Rebate of Duty on Fertiliser Manufacturers The government further made promised to do the following: ---------- *HOT DEALS:* *itel A70 - (128GB, 3GB RAM) $89,* *itel A70 - (256GB, 4GB RAM) $99* *itel P40 (128GB, 4GB), (6000mAh) $99* *itel P40 (64GB, 4G), (6000mAh) $93* Cash on Delivery in Harare & Bulawayo. Tinotumira kwamuri inosvika. WhatsApp: 0️⃣7️⃣8️⃣3️⃣ 4️⃣5️⃣0️⃣ 7️⃣9️⃣3️⃣ ---------- Strict observance of the Budget and Public Finance Management Act rules Borrowing only for the budgeted expenditures and through market-based operations No more recourse to Central Bank overdraft and other windows Gradual reduction of the wage bill Continuous review and rationalisation of public service posts; Rolling out of PFMS controls to all departments and local levels; Adherence to new Procurement Act rules Limit subsidies to those that are targeted and accommodated in the Budget; Complete migration of the Public Service Pension scheme from Pay-As-You-Go- pension to funded Pension Scheme Continue strengthening taxation systems. Source: 2021 National Budget Highlights final _If you found this article useful_ *Please support Pindula by forwarding to friends and groups*
Copy to clipboard
Give us Feedback
Full Name
WhatsApp Number
Feedback
Submit
Feedback