{"id":91275,"date":"2024-02-20T20:48:41","date_gmt":"2024-02-20T18:48:41","guid":{"rendered":"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/grain-millers-urge-mthuli-ncube-to-reverse-15-tax-on-rice"},"modified":"2024-02-21T00:23:22","modified_gmt":"2024-02-20T22:23:22","slug":"grain-millers-urge-mthuli-ncube-to-reverse-15-tax-on-rice","status":"publish","type":"post","link":"https:\/\/www.africa-press.cc\/zimbabwe\/all-news\/grain-millers-urge-mthuli-ncube-to-reverse-15-tax-on-rice","title":{"rendered":"Grain Millers Urge Mthuli Ncube To Reverse 15% Tax On Rice"},"content":{"rendered":"

Africa-Press – Zimbabwe. <\/strong><\/span>The Grain Millers Association of Zimbabwe (GMAZ) has urged Finance, Economic Development and Investment Promotion Minister Mthuli Ncube to reverse a 15% Value Added tax (VAT) introduced earlier this month saying the tax will push up the price of rice.<\/p>\n

Ncube announced Statutory Instrument 15 of 2024 on 09 February.<\/p>\n

In a statement, GMAZ President Tafadzwa Musarara also said the 15% VAT will result in untaxed rice processed in South Africa flooding the Zimbabwean market. Said Musarara:<\/p>\n

An imposition of VAT will increase the costs of 2kg rice from US$2.00 to US$2.30 or US$2.40.<\/p>\n

Due to change complications, some retailers may end up pricing the same at US$3.00. This will weigh down heavily on consumer spending.<\/p>\n

Rice in South Africa is VAT free and will land in Zimbabwe cheaper than locally-processed rice.<\/p>\n

The local market will soon be dominated by prepacked rice imports putting in danger 2,800 local workers in the rice sector and also the massive infrastructure will be made redundant.<\/p>\n

Consequently, government will not earn the intended revenue. We anticipate that VAT collection to be low, and the fiscus will lose employment related tax revenues due to the job losses.<\/p>\n

He said rice is the second most preferred food in Zimbabwe with a monthly consumption of 15 000 metric tonnes, and expected to rise to 22 500 by 2028. Said Musarara:<\/p>\n

Rice has favourable nutritional content than maize-meal as it is low in fat, cholesterol free and high in fibre.<\/p>\n

It has a lower glycaemic index compared to maize-meal, thus keeping blood sugar more stable compared to maize meal.<\/p>\n

This attribute is critical in the country\u2019s fight against non-communicable diseases such as sugar diabetes.<\/p>\n

Rice is gluten-free and ideal for persons with gastrointestinal health challenges.<\/p>\n

Zimbabwe has experienced wave after wave of price increases since the start of the year as a raft of tax measures introduced by Treasury in the 2024 National Budget kick in.<\/p>\n

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

Africa-Press – Zimbabwe. The Grain Millers Association of Zimbabwe (GMAZ) has urged Finance, Economic Development and Investment Promotion Minister Mthuli Ncube to reverse a 15% Value Added tax (VAT) introduced earlier this month saying the tax will push up the price of rice. Ncube announced Statutory Instrument 15 of 2024 on 09 February. In a […]<\/p>\n","protected":false},"author":84,"featured_media":91274,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,6],"tags":[1493,2189,786,5436,4895,19],"class_list":{"0":"post-91275","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-economy","9":"tag-africa-press","10":"tag-africa-press-zimbabwe-2","11":"tag-gmaz","12":"tag-grain-millers","13":"tag-rice","14":"tag-zimbabwe"},"yoast_head":"\nGrain Millers Urge Mthuli Ncube To Reverse 15% Tax On Rice - zimbabwe<\/title>\n<meta name=\"description\" content=\"The Grain Millers Association of Zimbabwe (GMAZ) has urged Finance, Economic Development and Investment Promotion Minist ...\" \/>\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\/grain-millers-urge-mthuli-ncube-to-reverse-15-tax-on-rice\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Grain Millers Urge Mthuli Ncube To Reverse 15% Tax On Rice\" \/>\n<meta property=\"og:description\" content=\"The Grain Millers Association of Zimbabwe (GMAZ) has urged Finance, Economic Development and Investment Promotion Minist ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/grain-millers-urge-mthuli-ncube-to-reverse-15-tax-on-rice\" \/>\n<meta property=\"og:site_name\" content=\"zimbabwe\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-20T18:48:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-20T22:23:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/zimbabwe\/sites\/14\/2024\/02\/sm_1708451280.49638.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"520\" \/>\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=\"2 minutes\" \/>\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\/grain-millers-urge-mthuli-ncube-to-reverse-15-tax-on-rice\",\"url\":\"https:\/\/www.africa-press.net\/zimbabwe\/all-news\/grain-millers-urge-mthuli-ncube-to-reverse-15-tax-on-rice\",\"name\":\"Grain Millers Urge Mthuli Ncube To Reverse 15% Tax On Rice - 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