Daily Tax Report ®

Zimbabwe Cuts Corporate Tax for ‘Overlooked’ Mining Firms to 24%

Nov. 30, 2020, 7:52 AM

Zimbabwe reduces corporate tax for mining companies to 24% from 25% with effect from 2021, Finance Minister Mthuli Ncube tells business leaders in the capital, Harare.

  • “That sector had been overlooked over the years,” he says of the sector that accounts for more than half of the southern African country’s export earnings
  • NOTE: Zimbabwe is forecasting $4 billion contribution from mining in 2020, from $2.7 billion last year

To contact the reporter on this story:
Godfrey Marawanyika in Harare at gmarawanyika@bloomberg.net

To contact the editors responsible for this story:
Gordon Bell at gbell16@bloomberg.net

Helen Nyambura, Rene Vollgraaff

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