News / National
Chinamasa chides civil servants
28 Nov 2014 at 06:52hrs | Views
Government workers were paid to do nothing while a whopping 81% of budgetary expenditures went towards employment costs, Finance and Economic Development Minister Patrick Chinamasa said yesterday.
He made the pronouncements while presenting the 2015 Budget statement in the National Assembly.
He lamented the situation Zimbabwe is facing as the revenue base remain limited hence the need to expand.
Chinamasa has increased the salary tax free threshold from $250 to $300 per month and widened income tax band to bring relief to taxpayers.
In the 2015 budget, Chinamasa said the move was to raise aggregate demand for goods and services effective January 1 2015.
Chinamasa said individuals earning from $5 001 to over $20 000 per month will pay tax rates between 35% and 50%. The proposed tax relief measures come against the backdrop of declining consumer demand due to low disposable incomes spawned by tight liquidity and company closures.
On other hand Chinamasa plays delicate balancing act.
Government made the indigenisation law more flexible as foreign deals will now be negotiated at line ministries. Chinamasa spoke of the need to develop strong linkages between industry, education, research and development as well as strong human resource base.
He made the pronouncements while presenting the 2015 Budget statement in the National Assembly.
He lamented the situation Zimbabwe is facing as the revenue base remain limited hence the need to expand.
Chinamasa has increased the salary tax free threshold from $250 to $300 per month and widened income tax band to bring relief to taxpayers.
In the 2015 budget, Chinamasa said the move was to raise aggregate demand for goods and services effective January 1 2015.
Chinamasa said individuals earning from $5 001 to over $20 000 per month will pay tax rates between 35% and 50%. The proposed tax relief measures come against the backdrop of declining consumer demand due to low disposable incomes spawned by tight liquidity and company closures.
On other hand Chinamasa plays delicate balancing act.
Government made the indigenisation law more flexible as foreign deals will now be negotiated at line ministries. Chinamasa spoke of the need to develop strong linkages between industry, education, research and development as well as strong human resource base.
Source - newsday
