Finance rejects income tax holiday

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Multimedia: Who is Zimbabwe’s next Finance minister?

Untitled 11 Multimedia: Who is Zimbabwe’s next Finance minister?

It will be prudent for us if we have these sunset provisions. If [businesses] are still not viable after 25 years, they can still renew. At least we have the option to review [their contracts], Purisima said. A sunset provision or clause is a measure within an existing regulation or law that provides that the law shall cease to have effect after a specific date, unless further legislative action is taken to extend the law. Most laws do not have sunset clauses and therefore remain in force indefinitely.

Ordinarily, anyone in charge of this key government portfolio faces scrutiny. So important is Treasury to Zimbabwes politics that Zanu PF credits the then acting Finance minister Patrick Chinamasa for introducing dollarisation in January 2009 to stem inflation, notwithstanding the bad policies that had triggered this unprecedented economic meltdown. Outgoing Finance minister Tendai Biti, though credited with several reforms, is one minister who bore the brunt of Zimbabwes underperforming economy during the four-year tenure of the inclusive government. Listen to our podcast below: During his tenure, his offices were besieged by war veterans who were baying for his blood, farmer organisations threw aspersions at him for underfunding the former mainstay of the economy agriculture. Following Zanu PF election victory, this week NewsDay Business looks at some possible frontrunners for the Finance ministry.

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