The government says it is crafting additional tax and non-tax incentives for investors under the Special Economic Zones (SEZ) with a statutory instrument expected to be gazetted soon.
Zimbabwe is mulling an incentive package for investors which is comparable to none with the newly established SEZ board of directors having been tasked to craft additional tax and non-tax incentives to be gazette soon.
The Minister of Macro-Economic Planning and Investment Promotion, Dr Obert Mpofu told captains of industry, who graced the 2017 Zimbabwe National Chamber of Commerce (ZNCC) congress that the government will also consult business on the proposed extra incentives.
The government has already ensured that the Finance Act of 2017 and Statutory Instrument 59 of 2017 refer to some of the incentives that will apply in the SEZs.
The captains of industry urged the government to adopt a coordinated approach in the implementation of the concept and prioritisation of local investors’ participation in the SPZs.
Among some of the outlined incentives for SEZs include exemption from corporate income tax for the first five years and special initial allowance for capital goods.
The government has identified three SPZ pilot projects which are Sunway City in Harare, Bulawayo industrial and the Victoria Falls tourism and financial hub.