- SFAAZ in Zimbabwe welcomes reduced VAT on essential imports
- Statutory Instrument 92 of 2024 exempts goods like potato seeds, white sugar, animal feed, fertilizers, pesticides, and cultivation seeds from import VAT
- SFAAZ CEO Mr. Washington Dube praises Government for listening to industry concerns
- Government aims to grow agriculture sector by exempting fertilizers, pesticides, and animal feed from tax
- Changes expected to lower prices of products for farmers’ benefit
- VAT exemption also applies retroactively to white sugar, soybeans, and oilseeds since January 1, 2024
- Companies can claim refunds for import VAT paid on these goods for business improvements
- Government’s approach seen as boosting business confidence and supporting Zimbabwe’s goal of becoming an upper-middle income nation by 2030
Source: herald.co.zw
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
