GOVERNMENT have started identifying all the people who are eligible to pay the country’s much-debated new wealth tax, the Zimbabwe Revenue Authority (Zimra) confirmed yesterday.
This comes after Finance minister Mthuli Ncube introduced the one percent wealth tax in his 2024 National Budget, saying then that the country’s tax structure benefited the rich at the expense of the poor.
The tax will be levied on all residential properties worth more than US$250 000 that are owned by individuals below 65 years of age.
Speaking in Harare yesterday, at a well-attended annual tax review gathering hosted by The Financial Gazette — the country’s number one business publication — Zimra said it had embarked on a concerted evaluation process to identify those eligible to pay the wealth tax.