VALUE ADDED TAX ON MEAT- ZIMBABWE

Whilst the rest of the world burst into the 2024 with a colourful burst of fireworks and merrymaking, Zimbabweans greeted the New Year with fireworks of a different kind. A new Value Added Tax of 15% on all meat products. The government sees this as a solution to its financial problems. However, this will certainly have an inflationary effect on the already high cost of living in Zimbabwe. Zimbabwe already boasts of the dubious distinction of having the highest inflation rate in the world beating its closest rivals Venezuela and Argentina hands down for this unwelcome accolade.