Govt mulls new tax regime

Government will in 2016 consider proposals to put in place a new simplified tax regime that will involve the setting up of a consolidated revenue fund, CRF, Finance Minister Patrick Chinamasa told parliament on Tuesday.

He said the consideration was on back of recommendations by the august House's Finance portfolio committee suggesting all revenue collections be held under one base.

A CRF is the term used for the main bank account of the government main sources of receipts by the CRF are taxation mainly comprising of income tax and capital gains.