ANNOUNCEMENT 01 Aug 2010In August 2010, the government of Zimbabwe announced a change in export taxation.
NUMBER OF INTERVENTIONS
Ministry of Finance, '2010 Mid Term Fiscal Policy Review.' pg. 170, http://www.zimtreasury.org/downloads/738.pdf
The Zimbabwean Minister of Finance, Mr. Tendai Biti has announced the increase in the export tax on unprocessed chrome from 15% to 20% and the amendment of the definition of unbeneficiated chrome ores and fines to include semi-processed chrome concentrates.
In 2007, a ban was placed on the export of unprocessed chrome ores and fines. The ban was lifted for 18 months, beginning 1 November 2009 and a tax of 15% imposed. However, as a result of exporters avoiding the payment of tax by exporting crushed chrome ore without adding value, the tax rate has been increase in order to promote value-addition.