Business people and residents of Mutare are not impressed by the new Income Tax Bill crafted by the Ministry of Finance to replace the country’s current tax laws.
Residents charge that Finance Minister Tendai Biti’s Bill seeks to reap where the government did not sow.
Former president of the Manicaland chapter of the Confederation of Zimbabwe Industries (CZI), Henry Nemaire, told a parliamentary outreach meeting discussing the Bill in Mutare on Wednesday that companies will resist moves to tax them before they find ways of sourcing low-interest loans.
Parliament’s Budget, Finance and Investment Promotion Committee is going around the country and leading discussions with the business community and ordinary Zimbabweans to get their input on the Bill before it is presented to the House of Assembly for debate next Tuesday.
Nemaire said the Income Tax Bill should address the issue of taxation on company vehicles for executives, lunch for employees and exemption on taxing foods handed out to workers.
Sondon Mugaradziko of the Movement for Democratic Change formation led by Professor Welshman Ncube said the Bill seeks to reap where the government did not sow.
He said it is surprising that the government has refused to grant Zimbabweans living in the diaspora an opportunity to vote but is seeking to tax them under the proposed tax law.
The committee is expected to visit Masvingo and Bulawayo where residents will express their views on the Income Tax Bill. Contributions from ordinary people and the business community would be put before parliament next week.