Finance Bill passed

via Finance Bill passed September 25, 2014

FINANCE minister Patrick Chinamasa on Tuesday steered the Finance Bill through the National Assembly despite spirited criticism from opposition parliamentarians to the Mid-Term Fiscal Policy Review Statement he delivered a fortnight ago.

The Bill, among other things, sought the charging of 5% surcharge tax on mobile phone airtime vouchers, 40% duty on second-hand vehicle imports, 15% withholding tax on foreign artistes and reduction of mining royalties from 7% to 5%.

Chinamasa defended the new raft of taxes as necessary for the economy to survive.

The Finance Bill was passed late in the evening as Zanu PF using its dominant majority in the House was not ready to make concessions to the demands raised by opposition MPs.

The Bill will now be tabled in the Senate starting at the second reading stage.

Former Finance minister Tendai Biti blasted the mid-term statement as coming short in redressing disinflation that would soon become a recession, adding that it was cruel for the government to increase taxes on the poor.


  • comment-avatar
    bruce Koffee 8 years ago

    Increase are not bad if funds could be used to grow the economic cake. But to take that whole lot and pay 76% of the total towards salaries of bloted civil service with the majority being soliders, police and CIOs is carelessness. They are people yes, but whose interest are they serving. They are now like private security guards for ZANU PF, hence must be on ZANU PF payroll, getting salaries form Shake shake building. If Senate is made up of real senators, who are senior citizens without partisan political mentality, they must reject that bill.