Zimbabwe: 2024 mid-term budget review
The 2024 Zimbabwe mid-term budget review was
presented on July 25, 2024. The following key proposed tax measures to the 2024
national budget statement and corresponding Draft Finance Bill are listed below
:
- Amendments to the Reserve Bank Act to
provide for the use of local currency (Zimbabwe Gold (ZWG)) as legal
tender, which was introduced on April 5, 2024, through the Presidential
Powers (Temporary Measures) Regulations.
- Promoting local currency with increased
proportions of taxes to be paid in ZWG (specifically mentioned was
corporate income tax).
The proposed tax measures are subject to change
before they may be promulgated into law, which is expected to occur later in
August 2024.