ZIMBABWE’s efforts to attract foreign investment through appealing tax incentives have inadvertently created lawful avenues for multinational corporations that seek to minimise their tax obligations, tax experts say.
One notable initiative is the foreign currency-denominated- Victoria Falls Stock Exchange (VFEX), an international offshore centre established in 2020, which offers a reduced dividend withholding tax rate of five percent for foreign investors, compared to the standard rate of 10 percent.