Incentives for local firms to cushion against COVID-19 effects

By ZBC Reporter
MORE relief packages for business to recover from the effects of Covid-19 are in the offing after treasury promised to honour tax incentives for strategic industries.
A post-pandemic economic reconstruction virtual meeting saw businesses raising concern over the tax structure and treasury promising to honour relief packages.
A tax expert Ms Fungai Mahiya told ZBC news on the sidelines of the online meeting that business wants clarity on the tax systems.
“There is that need to ensure that we get the right information from the government so as to ensure certainty,” he said.
Matrix Tax School director, Mr Marvellous Tapers who chaired the virtual meeting said concern was raised over treasury’s commitment to fulfil its promises, assure certainty in operations and the future of tax structure.
“There are some key issues that really needed to be solved and we anticipate something will be done,” he said.
Responding to concerns from business at the online meeting, Finance and Economic Development Minister, Professor Mthuli Ncube assured industry that government will honour tax relief packages.
“Let me assure you there might be challenges but we remain committed to honour the relevant funding structure and taxation systems,” he said.
Treasury has also hinted on more packages in the 2021 national budget to be presented before end of this year.