By By Ross Moyo
Minister of Finance, Economic Development, and Investment Promotion, Professor Mthuli Ncube has according to Statutory Instrument 105 of 2024, amended the Value Added Tax (General) Regulations, 2003, to include a new section that exempts the supply of gold to Fidelity Gold Refinery (Private) Limited from VAT.
“IT is hereby notified that the Minister of Finance, Economic Development and Investment Promotion has, in terms of section 78 of the Value Added Tax Act [Chapter 23:12], made the following regulations: –
“1. These regulations may be cited as the Value Added Tax (General) (Amendment) Regulations, 2024 (No. 69).
“2. The Value Added Tax (General) Regulations, 2003, published in Statutory Instrument 273 of 2003 (hereinafter referred to as the principal regulations), are amended by the insertion of a new section 13 after section 12 as follows-
“Zero rating of specified goods and services 13. Subject to section 10 of the Act, the supply of any specified goods or services in respect of which the rate of zero per centum shall apply shall be as set in the Second Schedule,” Professor Ncube said in the notice.
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