Zimbabwe Lowers Sugar Tax, Waives VAT on Some Basic Goods

Zimbabwe cut its special tax on sugar content and waived value-added tax on basics including bread, milk, cooking oil and corn meal, Finance Minister Mthuli Ncube says in an emailed statement.

• The surtax on sugar is lowered to US$0.001 per gram from US$0.02 for specified beverages
• Retailers will be allowed to buy directly from manufacturers as long as they have a valid tax clearance certificate and are registered for VAT
• NOTE: Confederation of Zimbabwe Industries lobbied government last week to reconsider proposed taxes and a rule barring informal traders from buying directly from manufacturers
• Other basic commodities such as meat, ...