Zimbabwe’s Central Bank has defended the tax propositions outlined in the 2024 National Budget by the Finance Ministry. Addressing the media outside parliament, Reserve Bank of Zimbabwe Governor John Mangudya emphasized the crucial need for local revenue generation, citing the challenging task of sourcing necessary funds for the treasury.
Governor Mangudya highlighted the significance of the proposed taxes as a means to address the country’s fiscal needs. He stressed the importance of drawing substantial funds locally through the proposed taxation measures, considering the complexities associated with revenue generation for the treasury.
However, Rushinga Member of Parliament, Mr. Tendai Nyabani, expressed differing views on the proposed tax structure. Nyabani suggested that taxes should have been directed towards alcoholic beverages, indicating a potential divergence in opinion regarding the allocation and imposition of taxes for economic growth.
