Zimra effects new VAT system

Zimbabwe Revenue Authority (ZIMRA) has changed the Value Added Tax (VAT) rate to 15% as of January 1 2023 following the instruction by the government.

HARARE – Zimbabwe Revenue Authority (ZIMRA) has changed the Value Added Tax (VAT) rate to 15% as of January 1 2023 following the instruction by the government.

Finance and Economic Development Minister Mthuli Ncube issued a directive after the Finance Act Number 2 of 2022 was enacted, changing the VAT rate from 14.5 percent to 15 percent, starting January 1, 2023.

In a public announcement, Zimra stated, “The Zimbabwe Revenue Authority (Zimra) therefore advises all its valued clients that VAT rate is now 15 percent commencing January 1, 2023 going forward.”

The tax collector informed all VAT-registered businesses that their fiscal devices should record VAT at 15% and that they should contact their respective, approved fiscal device suppliers to implement the change in tax rate.

The tax collector advised businesses to make sure the fiscal equipment is set up properly to record the new VAT rate of 15%.

RosGwen24 News
RosGwen24 News
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