The call comes as Finance Minister Tendai Biti is expected to table before Parliament the new Income Tax Bill. Giving evidence before the Portfolio Committee on Budget , Finance and Investment Promotion, Association of Certified Chartered Accountants of Zimbabwe Tax Manager, Maverlous Tapera, said mining companies and others were being forced to donate huge sums of money without getting any tax reprieve.
Tapera said while the new Bill was a good piece of legislation, Biti should fine tune some of the clauses to ensure that they meet international standards.
The Chairman of the committee, Paddy Zhanda, said the new Bill was being rushed to Parliament before people’s contributions had been incorporated, adding that the issue of rubber stamping bills by Parliament was not healthy for a nation.
The new bill, which will be based on a residence-based taxation model has been criticised throughout the country by tax experts and stake holders.
But Biti is under pressure to fast track the bill before the term of the current Parliament expires.
Post published in: News