{"id":50376,"date":"2021-11-25T19:28:49","date_gmt":"2021-11-25T17:28:49","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/?p=50376"},"modified":"2021-11-25T17:21:58","modified_gmt":"2021-11-25T15:21:58","slug":"tax-free-bonus-threshold-raised-to-100-000","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/tax-free-bonus-threshold-raised-to-100-000","title":{"rendered":"Tax-free Bonus Threshold Raised To $100 000"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>Finance and Economic Development Minister Mthuli Ncube has raised the local currency tax-free bonus threshold from ZWL$25 000 to ZWL$100 000.<\/p>\n

Presenting the 2022 national budget statement in Parliament on Thursday afternoon, Ncube also announced an increase in the foreign currency tax-free bonus threshold from US$320 to US$700. Said Ncube:<\/p>\n

I also propose to review the local currency tax-free bonus threshold from ZWL 25 000 to ZWL 100 000 and the foreign currency tax-free bonus threshold from US$ 320 to US$ 700, with effect from 1 November 2021.<\/p>\n

Ncube also proposed to raise the excise duty on cigarettes, saying this will help to curb illicit flows and also mobilise additional revenue to the Fiscus. He said:<\/p>\n

In order to benchmark excise tax rates with the practice in the region, thereby curbing illicit flows and also mobilise additional revenue to the Fiscus, I propose to increase excise duty on cigarettes from 20% + US$5.00\/1000 cigarettes to 25% + US$5.00\/1000.<\/p>\n

I, further, propose to introduce a flat rate of excise duty on energy drinks at a rate of US$0.05\/litre, or the local currency equivalent.<\/p>\n

Incidences of non-communicable diseases, in particular, cancer, diabetes and hypertension are on the increase.<\/p>\n

For More News And Analysis About Zimbabwe<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Zimbabwe. Finance and Economic Development Minister Mthuli Ncube has raised the local currency tax-free bonus threshold from ZWL$25 000 to ZWL$100 000. Presenting the 2022 national budget statement in Parliament on Thursday afternoon, Ncube also announced an increase in the foreign currency tax-free bonus threshold from US$320 to US$700. Said Ncube: I also […]<\/p>\n","protected":false},"author":84,"featured_media":50375,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6,35,15],"tags":[6779,1493,2189,2229,194,4306,1933,807,6780,19],"class_list":{"0":"post-50376","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"category-homepage-english","10":"category-twitter","11":"tag-2022-national-budget","12":"tag-africa-press","13":"tag-africa-press-zimbabwe-2","14":"tag-bonus","15":"tag-budget","16":"tag-cigarettes","17":"tag-excise-duty","18":"tag-mthuli-ncube","19":"tag-national-budget","20":"tag-zimbabwe"},"yoast_head":"\nTax-free Bonus Threshold Raised To $100 000 - zimbabwe<\/title>\n<meta name=\"description\" content=\"Finance and Economic Development Minister Mthuli Ncube has raised the local currency tax-free bonus threshold from ZWL$2 ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tax-free-bonus-threshold-raised-to-100-000\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tax-free Bonus Threshold Raised To $100 000\" \/>\n<meta property=\"og:description\" content=\"Finance and Economic Development Minister Mthuli Ncube has raised the local currency tax-free bonus threshold from ZWL$2 ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tax-free-bonus-threshold-raised-to-100-000\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-25T17:28:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-25T15:21:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2021\/11\/img-619fa9f84ef15.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1043\" \/>\n\t<meta property=\"og:image:height\" content=\"586\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tax-free-bonus-threshold-raised-to-100-000\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/tax-free-bonus-threshold-raised-to-100-000\",\"name\":\"Tax-free Bonus Threshold Raised To $100 000 - 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