Chronicle Editor
Bongani Ndlovu, Online Reporter
Winning punters at betting houses in Zimbabwe will now be included in the tax base after Finance Minister Professor Mthuli Ncube introduced a 10% withholding tax on gross winnings.
Presenting the 2025 National Budget at the New Parliament Building in Mount Hampden, Harare, on Thursday afternoon, Professor Ncube highlighted the popularity of betting, reflected in the proliferation of sports betting houses across the country.
He announced that the withholding tax will take effect from 1 January 2025.
“Sports betting punters currently receive income from winnings, which is not taxable under Personal Income Tax. To include punters in the tax base, I propose to introduce a 10% withholding tax on gross winnings, effective 1 January,” said Professor Ncube.
Online Reporter