Exports are expected to reach US$7,3 billion, imports to reach US$8,1 billion by year end.
Current account deficit expected at US$800 million by year end.
Foreign currency VAT to be codified into law, and payments to be backdated to February 1, 2019
Companies that owe Zimra to be temporarily closed.
Cross border traders are now liable to 10% withholding tax.
A $929 billion (US$2,11 billion) supplementary budget where 53% will go towards employment costs to cushion public servants against increasing cost of living.
Revenue collections to year end are now projected at $1,7 trillion, (US$3,87 billion) while expenditures are now estimated at $1,9 trillion( US$4,32 billion).
Domestic debt at $1,3 trillion (US$3,5 billion) with external debt standing at US$13,2 billion
GDP growth revised downwards to 4,6% from the initial 5,5%.
Tax-Free threshold on local currency remuneration adjusted to $50 000 (US$113,89)per month from $25 000 (US$56,94)
Tax bands to end at $12 million (US$27 334) from the current $6 million (US$13 667) per annum, above which tax will be levied at a rate of 40% with effect from August 1, 2022.
A 5% royalty rate to be applied to platinum effective January 1 2023.
A royalty rate of 5% will also apply to lithium.
VAT registered operators to pay duty in foreign currency to facilitate offsetting of output and input tax in the same currency.-newsday
