Chronicle Editor
Oliver Kazunga, Senior Business Reporter
CIGARETTE manufacturer, BAT Zimbabwe, says its contribution to public finances by way of taxes jumped 378,6 percent from $173 million last year to $828 million in the six months period to June 30, 2021.
The listed tobacco manufacturer contributes to Treasury through various taxes, including excise duty, corporate tax, value added tax, customs duties, pay as you earn and withholding tax.
“The group’s contribution to the Zimbabwe Revenue Authority (Zimra) went up from $173 million in 2020 to $828 million for the period ended 30 June 2021,” said the company.
“The key contributors to the increase in the tax payments related to the legislated upward adjustment in excise duty payable year-on-year as well as price increases effected by the group.” – @okazunga
Online Reporter