ZIMBABWE’s efforts to attract foreign investment through appealing tax incentives have inadvertently created lawful avenues for multinational corporations that seek to minimise their tax obligations, tax experts say.One notable initiative is the foreign currency-denominated- Victoria Falls Stock Exchange (VFEX), an international offshore centre established in 2020, which offers a reduced dividend withholding tax rate of…
Multinationals exploit Zimbabwe’s tax laws
foreign investors are exempt from capital gains withholding tax on the VFEX, while the standard rate for dividends to non-resident holding companies not listed on the VFEX is 15 percent.