Zimbabwe temporarily halts collection of wealth tax targeting real estate owned by high net-wealth individuals, says Deputy Finance Minister David Mnangagwa.
- ”We have temporarily shelved it until the administrative modalities have been sorted out and figured out,” Mnangagwa tells lawmakers
- NOTE: Wealth tax, which was introduced in December 2023 legislation, levies a 1% charge on the value of residential properties exceeding $250,000, excluding a taxpayer’s primary residence. It has yet to be collected
- Separately, Mnangagwa says Zimbabwe has collected $4.8 million from a 1% levy on lithium and granite miners since January 2024
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