Scrap punitive tax — ZNCC

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THE Zimbabwe National Chamber of Commerce (ZNCC) has demanded the scrapping of punitive taxes on business, as opposed to offering a stimulus package, saying it was evident that the government had no funds to bail out ailing companies.
This comes as officials recently announced a strict 30-day lockdown aimed at curbing the spread of the Covid-19 pandemic, in a development economists have said will further negatively impact on businesses still struggling to get a piece of the $18 billion stimulus package promised by the government last year.

“The stimulus cannot be expected when we know the fiscal status of the government is not healthy. The best stimulus at the moment must come from tax relief through reversing a number of tax measures in Finance minister Mthuli Ncube’s 2021 budget. We all know there is no fund to support ailing businesses.