Finance Minister Mthuli Ncube has recently implemented new regulations, indicating that the Zimbabwe gold sale rate is now zero percent. This information, as per a Twitter post by ZimbabweReview, is explicitly stated to be related to the Value Added Tax [Chapter 23:12], which has been zero-rated.
These changes are specifically outlined in the Value Added Tax (General) (Amendment) Regulations, 2024 (No. 69). The amendments introduce a zero-rating for the supply of gold to Fidelity Gold Refinery (Private) Limited.
This tax benefit is anticipated to incentivize gold miners and buyers to utilize Fidelity Gold Refinery for their gold transactions.
Source Newsreportzim.com
