malvernmugadzikwa
Online Reporter
The Government has unveiled a package of measures aimed at further stabilising the Zimbabwe Gold (ZiG) by promoting its broader use, as well as tax relief measures expected to boost spending and spur production.
Presenting the Mid-Term 2024 Fiscal Policy this afternoon at New Parliament Building, Finance, Economic Development and Investment Promotion Minister Professor Mthuli Ncube proposed legislating the 50/50 corporate tax payments in local and foreign currency requirement, mandating presumptive tax payments in local currency despite the currency of trade, and accepting local currency for duty on selected non-essential imports.
In addition, the Government will require State agencies and departments to charge certain fees in domestic currency.
Since its introduction in April this year, ZiG has maintained relative stability and promoting the wider use of the local currency is expected to further solidify its position and contribute to macroeconomic stability.
Online Reporter
Bongani Ndlovu