An array of new taxes introduced by Treasury will take effect on the 1st of January 2025 as contained in the 2025 Nation Budget Statement presented last month by Minister of Finance, Economic Development and Investment Promotion, Professor Mthuli Ncube.
The new Fast Foods Tax of 1% on the sales value of fast food items like pizzas, burgers, and French fries will take effect from the 1st January 2025 to encourage healthy eating, while a betting tax rate of 10% withholding tax on gross winnings of sports betting punters will also be effective from the 1st of next month.
https://www.zbcnews.co.zw/new-taxes-take-effect-on-the-1st-of-january-2025/Treasury also increased some selected taxes including the capital gains tax on marketable securities to be revised from a temporary 2% withholding tax to a final 1% tax from the 1st of January 2025.
