NewZimbabwe.com – The Zimbabwe News You Trust is Zimbabwe’s leading online newspaper and published by New Zimbabwe Media Ltd. The platform brings you the latest breaking News, Business, Showbiz, Sports, Diaspora and gives you everything you’ve come to expect and love.
NewZimbabwe.com – The Zimbabwe News You Trust is Zimbabwe’s leading online newspaper and published by New Zimbabwe Media Ltd. The platform brings you the latest breaking News, Business, Showbiz, Sports, Diaspora and gives you everything you’ve come to expect and love.
By Alois Vinga
FINANCE Minister Mthuli Ncube Friday scrapped the payment of Value Added Tax (VAT) on rice imports effectively bowing down to pressure mounted by millers and retailers.
Under new measures enshrined in Statutory Instrument (SI) 15 of 2021, the Treasury boss scrapped duty on various types of 25kg of rice pre-packaged for retail sale.
The decision was made in line with Section 78 of the Value Added Tax Act [Chapter 23:12] and came into effect on the first of May 2021.
“It is hereby notified that the Minister of Finance has made these regulations which may be cited as the Value Added Tax (General) (Amendment) Regulations, 2021 (No.57),” Ncube said in the SI.