Almot Maqolo, Staff Writer 
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FINANCE minister Mthuli Ncube says the country’s move to raise value added tax (VAT) to 15 percent from 14,5 percent starting next month will generate $300 billion that will fund at least five ministries.
Ncube told a post-budget review meeting organised by the Confederation of Zimbabwe Retailers that VAT was still low compared to the region, which averages 16 percent.
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“VAT is only a half percent increase and is going to finance five ministries. That is $300 billion,” he said.
He said the VAT was an important levy to the government.
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