Zimbabwe 2016 Budget Presented to Parliament

Zimbabwe's Ministry of Finance Patrick Chinamasa presented the 2016 Budget to parliament on 26 November 2015. The main tax related measures are summarized as follows:

• Transfer pricing regulations will be strengthened to provided additional guidance and counter base erosion and profit shifting;
• An interest withholding tax exemption will be introduced for long-term deposits of more than 12 months;
• The mineral royalty rate for gold will be reduced from 5% to 3%;
• A VAT exemption will be introduc…