‘Ease tax burden in order to encourage formalisation’

Medical expenses also fall under the purview of tax credits, allowing taxpayers to claim deductions for medical costs incurred for themselves, their spouses, or minor children.

ZIMBABWE should simplify and reduce the tax burden on businesses in order to promote formalization, enhance competitiveness and foster sustainable economic growth, experts have said. The country has a relatively higher number of taxes targeting businesses compared to the region, not only increasing the cost of doing business but also discouraging formalization. In order to…

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