Speaking during the debate on the 2020 budget Mushoriwa said Finance Minister Mthuli Ncube should raise the tax threshold from $2 000 to $4 500 because that was now the poverty datum line.
“Anybody that is earning $4 500 or less is being punished in this country. To that extent, I want the Hon. Minister to consider that,” he said.
Ncube said the $2 000 threshold was reached after a survey and “extensive consultation”.
“On the threshold itself, Hon. Mushoriwa says why $2000, it should be $4 500. As I said, again we have done a survey and we found out that this $2000 is appropriate,” Ncube said.
“Also, one thing that I should never do as a policy maker of my position is to chase inflation whenever you are doing these kinds of adjustments. If you do you might think you are chasing inflation but actually you are adding to it by trying to catch up with or trying to get ahead of it.
“You should always stay behind it but also it turns out that $2000 is a product of the survey that we did; we think that it is appropriate.”
(251 VIEWS)
The gazetting into law of the payment of quarterly taxes on a 50-50 basis in…
Zimbabwe has today unveiled a ZiG276.4 billion budget for 2025 during which it expects the…
Zimbabwe President Emmerson Mnangagwa has repeatedly stated that he is not going to contest a…
The Zimbabwe Gold fell against the United States dollar for five consecutive days from Monday…
An Indian think tank has described Starlink, a satellite internet service provider which recently entered…
Zimbabwe’s new currency, the Zimbabwe Gold (ZiG), firmed against the United States dollars for 10…