Zimbabwe's Budget for 2015 Presented Including Reduced Tax Rates for Exporters and Adjusted Individual Income Tax Brackets

Zimbabwe's Budget for 2015 was presented to parliament on 27 November 2014. Key proposed tax measures include:

Export Incentive

• Introducing lower corporate tax rates (CTR) for exporting manufacturers based on the percentage of manufacturing output exported as follows:
  • 20% CTR when 30% to 40% of output is exported
  • 17.5% CTR when 41% to 50% of output is exported
  • 15% CTR when greater than 50% of output is exported
• Exempting foreign export agent fees from withholding tax up to 5% of the va…