Consultants Raise Tax Concerns as MPs Examine 2026 Budget

Private consultants on Monday briefed Parliamentarians at the New Parliament Building in Mt Hampden on what the 2026 national budget contains, why it matters, who it affects, and how proposed new taxes could impact citizens, ahead of next week’s budget debate.

The 2026 budget, presented by Finance Minister Professor Mthuli Ncube last Thursday, came under close scrutiny during the post-budget seminar as lawmakers assessed whether the fiscal plan meets the aspirations of Zimbabweans.

Consultants highlighted key revenue measures, including a VAT increase and the new Cash Withdrawal Levy, which they said could strain businesses and vulnerable groups if not carefully balanced.

“These adjustments are meant to broaden the tax base, but their impact on profitability and society must be considered,” said Zimbabwe Women Resource Centre Network Executive Director Ms Thokozile Ruzvidzo.

Tax consultant Mr Steve Matoshaya noted that changes to the IMTT, now classified as a tax-deductible expense, were fair, while new limits on how miners carry forward losses “make practical sense.”

Lawmakers also evaluated allocations under the National Development Strategy 2, with Senator Robson Mavhenyengwa describing the budget as “balanced,” and Honourable Nyasha Chikwinya praising investments in health, education and gender initiatives.

Senate President Madam Mabel Chinomona urged MPs to centre citizens in their debate, asking whether the budget promotes growth and delivers essential services.

Zimbabwe’s economy is projected to grow by 6 percent this year, but Treasury anticipates a USD140 million deficit in 2026, prompting the proposed tax measures.