Page 48 - Nexia SAB&T Africa Overview 2025

Zimbabwe (GMT +2)

General:
▪ Capital City: Harare
▪ Official Language: English
▪ Currency: New currency known as Zimbabwe Gold (ZiG) introduced in 2024
▪ Main Exports: Tobacco, nickel, diamonds, platinum, ferrochrome, gold, textiles
▪ Surface Area: 390.8 sq. km (thousands)
▪ Population: 16,9 million (2025,est)
Key Economic Indicators:
▪ GDP: $38,17 billion (2025) / GDP Growth Rate: 3.2% (2024)
▪ CPI Inflation Rate (annual): 92.2% (2025)
▪ Sovereign Credit Rating: Moody’s: Currently no rating
▪ Indicator of Economic Freedom Score: 35.1/100 (2025): Repressed
Exchange Controls:
▪ Exist, administered by the Reserve Bank of Zimbabwe (RBZ)
Basis of Taxation: (Tax Year End: 31 December)
▪ Residents: Zimbabwe-source or deemed Zimbabwe-source income
▪ Non-residents: Zimbabwe-source or deemed Zimbabwe-source income
Tax Rates:
▪ Individuals: Progressive rates to 41.2%
▪ Companies: 24.72%
▪ Estate Duty: Varying rates apply
▪ Inheritance Tax: Estate tax of 5% on estates with a value exceeding $100,000
▪ VAT: 15%
▪ Withholding Tax: Varying rates apply to residents and non-residents
▪ Capital Gains Tax (CGT): Varying rates apply
▪ Double Taxation Agreements: In place with several countries
Useful links:
▪ Reserve Bank of Zimbabwe http://rbz.co.zw
▪ Zimbabwe Revenue Authority http://www.zimra.co.zw
▪ Zimbabwe Investment and Development Agency https://zidainvest.com

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