Zimbabwe says there should be no increase in the prices of basic goods because they are exempt from value added tax

The Ministry of Finance today said the prices of basic goods like bread, milk, cooking oil, mealie meal, sugar and flour should not be increased because they are exempt from value added tax.

In a statement clarifying some of the tax measures in the 2024 budget, Finance Minister Mthuli Ncube said increases in the prices of other commodities like meat, rice, bath and laundry soap, washing powder, toothpaste and petroleum jelly should be minimal because they had been moved to standard rating.

He said the new measures follow consultations with the industry body the Confederation of Zimbabwe Industries.

Below is the full statement:

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