Finance Act, 2024

1. Transportation: passenger buses, taxes and car hire services.

2. Retail and wholesale trade.

3. Barber shops, hairdressing and beauty salons.

4. Employment agencies.

5. Estate agencies.

6. Valet services.

7. Grain milling.

8. Bakeries.

9. Tobacco grading and packaging.

10. Advertising agencies.

11. Provision of local arts and craft, marketing and distribution.

12. Artisanal mining.

13. Haulage and Logistics Industry. The Haulage and Logistics Industry in Zimbabwe encompasses all activities, services, and operations related to the movement of goods, cargo, fuel, mineral ores and other consumables within the country’s inland territory using rigid trucks (up to 15 tonnes), horse drawn trailers, including tipper trucks, dump trucks, fuel tankers other road vehicles across Zimbabwe’s road networks. The industry is classified into the following segments— (a) rigid trucks: rigid trucks, also known as straight trucks, are single-unit vehicles with both the cargo area and the driver’s compartment on the 23 DISTRIBUTED BY VERITAS E-mail: veritas@mango.zw Website: www.veritaszim.net VERITAS MAKES EVERY EFFORT TO ENSURE THE PROVISION OF RELIABLE INFORMATION, BUT CANNOT TAKE LEGAL RESPONSIBILITY FOR INFORMATION SUPPLIED. <!-- page break --> No. 2 Finance Act 2024 same chassis. They are mainly used for local deliveries and start at a Gross Vehicle Mass (GVM) of around 3.5 tonnes up to a maximum of 15 tonnes; (b) dump (tipper) trucks: a dump truck, also known as a dumping truck, dump trailer, dumper trailer, dump lorry or dumper lorry or a dumper for short, is used for transporting materials (such as dirt, gravel, or demolition waste) for construction as well as coal. A typical dump truck is equipped with an open-box bed, which is hinged at the rear and equipped with hydraulic rams to lift the front, allowing the material in the bed to be deposited (“dumped”) on the ground behind the truck at the site of delivery; (c) horse drawn tipper trucks: refers to large trucks usually with 30 000 tonnes capacity or more whose cargo area and the driver’s compartment are detached. They are used mainly to transport built material such as mineral ores and other related materials. (d) fuel and Liquefied Petroleum Gas tankers: refers to motor vehicle used for the transportation or delivery of petroleum products such as petrol, diesel, jet fuel, Liquefied Petroleum Gas or any other petroleum products. They vary in size but usually capacity is between 6 000L and 40 000L; (e) refrigerated trucks: used for transporting perishable items under controlled temperatures and are the backbone of delivering fresh food and vital medications for both humans and animals. Most refrigerated trucks come in small sizes ranging from1 tonne to around 10 tonne capacity trucks; (f) containerised cargo and side tents trucks: These are mainly used for shipping purposes but locally are used to transport goods which require efficient and secure handling in transit.

14. Borehole Drilling The borehole drilling industry in Zimbabwe involves the exploration, drilling, and installation of water boreholes to provide sustainable water sources for domestic, agricultural, and industrial use. The industry is classified into the following segments— (a) exploratory drilling: this involves geological surveys and drilling to determine the presence of groundwater. Specialised equipment and techniques are used to locate and assess aquifers; (b) production drilling: this segment focuses on the actual drilling of boreholes for water extraction. It involves the use of rotary and percussion drilling methods to reach desired depths; (c) borehole installation: after drilling, the installation of borehole casing, screens, and pumps is conducted to ensure proper water extraction and sustainability; (d) maintenance and rehabilitation: this includes regular maintenance of boreholes, including cleaning, repairs, and rehabilitation to ensure continuous water supply and prevent contamination; (e) consulting and testing services: providing expert advice, water quality testing, and feasibility studies to ensure optimal borehole performance and compliance with regulatory standards. 24 DISTRIBUTED BY VERITAS E-mail: veritas@mango.zw Website: www.veritaszim.net VERITAS MAKES EVERY EFFORT TO ENSURE THE PROVISION OF RELIABLE INFORMATION, BUT CANNOT TAKE LEGAL RESPONSIBILITY FOR INFORMATION SUPPLIED. <!-- page break --> 2024 Finance Act No. 2

15. Clearing and Customs The Customs Clearing Industry in Zimbabwe involves all activities related to the facilitation of goods through customs borders, ensuring compliance with regulatory requirements and efficient processing of imports and exports. The industry is classified into the following segments— (a) documentation processing: preparation and submission of necessary documents, including bills of lading, commercial invoices, and customs declarations to ensure compliance with import and export regulations; (b) customs brokerage: licensed brokers act on behalf of clients to navigate customs regulations, classify goods, and calculate duties and taxes accurately; (c) cargo inspection and verification: coordination of inspections by customs authorities to verify the contents and value of shipments, ensuring adherence to import and export regulations; (d) duty and tax payment: management of duty and tax payments, including calculation, payment facilitation, and securing refunds or rebates where applicable; (e) logistics coordination: collaboration with shipping and transport companies to ensure timely and efficient movement of goods through customs borders.

16. Shipping and Forwarding The Shipping and Forwarding Industry in Zimbabwe involves the coordination and management of the transportation of goods from one location to another, including international shipping and local distribution. This industry is essential for global trade, ensuring the efficient movement of goods across borders and within the country. The industry is classified into the following segments— (a) freight forwarding: coordination of the shipment of goods via air, sea, or land, including route planning, carrier selection, and documentation management; (b) warehousing and storage: provision of storage facilities for goods awaiting shipment or distribution, including inventory management and security services; (c) customs clearance: ensuring compliance with customs regulations and facilitating the clearance of goods through customs borders; (d) transportation services: arranging the movement of goods from ports to final destinations using various modes of transport, including trucks, rail, and air cargo; (e) logistics consulting: offering expert advice on supply chain optimization, cost reduction, and efficient transportation strategies.

17. Pharmaceutical retailing The Pharmaceutical Retailing Industry in Zimbabwe involves the sale and distribution of medications and health-related products to consumers through retail pharmacies and other outlets. This industry plays a crucial role in providing access to essential medications and health care products, contributing to public health and well-being. The industry is classified into the following segments— (a) community pharmacies: retail outlets that provide prescription medications, over-the-counter drugs, and health-related products directly to consumers; 25 DISTRIBUTED BY VERITAS E-mail: veritas@mango.zw Website: www.veritaszim.net VERITAS MAKES EVERY EFFORT TO ENSURE THE PROVISION OF RELIABLE INFORMATION, BUT CANNOT TAKE LEGAL RESPONSIBILITY FOR INFORMATION SUPPLIED. <!-- page break --> No. 2 Finance Act 2024 (b) hospital pharmacies: pharmacies located within hospitals that supply medications to inpatients and outpatients, ensuring proper medication management and patient care; (c) online pharmacies: digital platforms that offer the sale and delivery of medications and health products, providing convenience and accessibility to consumers; (d) pharmaceutical wholesalers: companies that supply medications and health products to retail pharmacies and other health care providers, ensuring a steady supply chain; (e) consultation and advisory services: offering professional advice on medication use, health management, and wellness to consumers, enhancing the role of pharmacies in health care.”. 29 Amendment of section 3 of Cap. 22:23 Section 3 (“Application of Act”) of the Public Procurement and Disposal of Public Assets Act [Chapter 22:23] is amended by the insertion of the following subsections after subsection (9)— “(10) Notwithstanding any exemption granted to an entity under subsection (9), such entity shall nevertheless comply with guidelines issued by the Procurement Regulatory Authority of Zimbabwe governing the criteria by which the entity shall regulate its procurement practices, as read with section 44 of the Public Finance Management Act [Chapter 22:19] and section 195 of the Constitution. (11) In the event that the entity referred to in subsection (9) is alleged to be in violation of the guidelines referred to in subsection (10), the Procurement Regulatory Authority of Zimbabwe may institute an investigation in terms of section 96 of the Public Procurement and Disposal of Public Assets Act [Chapter 22:23]. (12) The Procurement Regulatory Authority of Zimbabwe shall give the entity twenty-one (21) days’ notice to make representations on the findings of the investigations referred in subsection (11). (13) Subject to subsection (12), the Procurement Regulatory Authority of Zimbabwe shall make appropriate recommendations to the President in line with the findings of an investigation referred in subsection (11). (14) Upon receipt of such recommendations, the President may, in relation to any entity that is the subject of the findings concerned, by notice in the Gazette withdraw its exemption under subsection (9) (for a defined period or indefinitely) or vary the terms of the exemption.”. 30 Repeal of section 22 of Cap. 22:20] The Sovereign Wealth Fund of Zimbabwe Act [Chapter 22:20] (No.7 of 2014) is amended— (a) by the repeal of section 22; (b) in section 27— (i) by the deletion of the title and the substitution of “Compliance with host country laws”; (ii) by the repeal of subsection (2). 31 New section inserted in Cap. 2:08 The Privileges, Immunities and Powers of Parliament Act [Chapter 2:08] is amended by the insertion of following section after section 33— 26 DISTRIBUTED BY VERITAS E-mail: veritas@mango.zw Website: www.veritaszim.net VERITAS MAKES EVERY EFFORT TO ENSURE THE PROVISION OF RELIABLE INFORMATION, BUT CANNOT TAKE LEGAL RESPONSIBILITY FOR INFORMATION SUPPLIED. <!-- page break --> 2024 Finance Act No. 2 “34 Disclosure of assets and financial interests by Members of Parliament (1) Standing Orders shall make provision for— (a) the Clerk of Parliament to establish and keep up to date an assets and financial interests disclosure register (in this section called an “asset disclosure register”) for the purposes of this section, and the appointment of one or more specified officers (in this section called an “asset disclosure officer”) who shall be responsible for administering the register on behalf of the Clerk; (b) every Member of Parliament at specified intervals to provide the asset disclosure officer with a written declaration listing in full— (i) all immovable property which the Member owns, leases or in which he or she has any other interest; and (ii) all movable property, exceeding such value as may be prescribed, which the Member owns, leases or in which he or she has any other interest; and (iii) any business in which the Member has an interest or which he or she plays any part in running; and stating in each case the nature of the interest in the property or business concerned. (2) For the purpose of this section Standing Orders shall make provision for— (a) the extent, specificity and regularity of asset disclosure; and (b) the extent to which the asset disclosure register may be availed to the public for inspection; and (c) the extent to which the asset disclosure requirement shall apply to spouses and children and other dependent or non- dependent family members and business or non-business associates of the Member of Parliament concerned; (3) Any deliberate omission from a written declaration of any matter or thing required by the asset disclosure regulations to be disclosed therein, or makes any false statement therein, shall make the Member of Parliament required to submit such a declaration liable to be prosecuted for contravening section 181 (“Perjury”) of the Criminal Law Code. (4) Any Member of Parliament who refuses or deliberately avoids submitting an asset disclosure declaration in accordance with the relevant Standing Orders shall be guilty of contempt of Parliament. (5) Standing Orders shall make provision for the framing and enforcement of a code of conduct for Members of Parliament.”. 32 New section inserted in Cap. 9:24 The Money Laundering and Proceeds of Crime [Chapter 9:24] (No. 4 of 2013) is amended by the insertion of following section after section 102— “102A Disclosure of assets and interests by public officers (1) In this section— 27 DISTRIBUTED BY VERITAS E-mail: veritas@mango.zw Website: www.veritaszim.net VERITAS MAKES EVERY EFFORT TO ENSURE THE PROVISION OF RELIABLE INFORMATION, BUT CANNOT TAKE LEGAL RESPONSIBILITY FOR INFORMATION SUPPLIED. <!-- page break --> No. 2 Finance Act 2024 “relevant entity” means any institution or agency of Government (branch, commission, service, statutory body or disciplined force) established by any of the Acts listed in paragraphs (a) to (g). (2) Until such time as one or more Acts of Parliament are enacted in compliance with section 198 of the Constitution (whether by way of amendment of each the following Acts or by means of one or more self- contained Acts of Parliament speaking to each class of public officer to which the following Act relate, or any combination of them), this section shall have effect for the purposes of compliance therewith in relation to public officers (including judges and magistrates) and employees whose employment is or conditions of service of office are governed by— (a) the Judicial Service Act [Chapter 7:18] (Act No. 10 of 2006); and (b) the Public Service Act [Chapter 16:04]; and (c) the Attorney-General’s Office Act [Chapter 7:19] (Act No. 4 of 2011); and (d) the National Prosecuting Authority [Chapter 7:20] (No. of 5 of 2014); and (e) the Defence [Chapter 11:02]; and (f) the Police [Chapter 11:10]; and (g) the Prisons and Correctional Service Act [Chapter 7: 21] (Act No. 9 of 2023); and (h) the Revenue Authority [Chapter 23:11] (Act No. 17 of 1999). (3) Notwithstanding anything contained in thoseActs, regulations may be made under those Acts (hereinafter called the “asset disclosure regulations”) in virtue of this section providing for— (a) the establishment and upkeep by the relevant entity concerned of an assets and interests disclosure register (in this section called an “asset disclosure register”) for the purposes of this section, and the appointment of one or more specified officers (in this section called an “asset disclosure officer”) who shall be responsible for administering the register; (b) every public officer of or above a specified level of seniority employed by or holding office in the entity concerned, as soon as possible after being employed, appointed or re- appointed (and in any event within three months after the appointment or re-appointment) as— (i) a member of the commission, board or other governing body of the entity concerned; or (ii) an office holder of or employee in the entity concerned; to provide the asset disclosure officer with a written decla- ration listing in full— A. all immovable property which the public officer owns, leases or in which he or she has any other interest; and 28 DISTRIBUTED BY VERITAS E-mail: veritas@mango.zw Website: www.veritaszim.net VERITAS MAKES EVERY EFFORT TO ENSURE THE PROVISION OF RELIABLE INFORMATION, BUT CANNOT TAKE LEGAL RESPONSIBILITY FOR INFORMATION SUPPLIED. <!-- page break --> 2024 Finance Act No. 2 B. all movable property, exceeding such value as may be prescribed, which the public officer owns, leases or in which he or she has any other interest; and C. any business in which the public officer has an interest or which he or she plays any part in running; and stating in each case the nature of the interest in the property or business concerned. (4) Asset disclosure regulations shall, with respect to— (a) the extent, specificity and regularity of asset disclosure; and (b) the extent to which the asset disclosure register may be availed to the public for inspection; and (c) “the extent to which the asset disclosure requirement shall apply to spouses and children and other dependent and business associates of the public officer concerned”; be benchmarked on those provisions for the same matters contained in the Standing Orders of Parliament that are applicable to asset disclosure by members of Parliament, that is to say, shall not impose less stringent or less transparent requirements than those provided for in such Standing Orders. (5) Any public officer who deliberately omits from a written declaration of any matter or thing required by the asset disclosure regulations to be disclosed therein, or makes any false statement therein, shall make the public officer required to submit such a declaration liable to be prosecuted for contravening section 181 (“Perjury”) of the Criminal Law Code. (6) Any refusal or deliberate avoidance of an obligation to submit an asset disclosure declaration in accordance with the requirements of the asset disclosure regulations shall render the public officer concerned (notwithstanding anything contained in constitutive Act of the relevant entity concerned) liable to be disciplined for misconduct in accordance with the disciplinary provisions enacted by or under the constitutive Act of the relevant entity. (7) To the extent that no code of conduct to be observed by public officers of a relevant entity has been enacted by or under the constitutive Act of the relevant entity concerned, the asset disclosure regulations of the relevant entity may enact such a code.”. 29 DISTRIBUTED BY VERITAS E-mail: veritas@mango.zw Website: www.veritaszim.net VERITAS MAKES EVERY EFFORT TO ENSURE THE PROVISION OF RELIABLE INFORMATION, BUT CANNOT TAKE LEGAL RESPONSIBILITY FOR INFORMATION SUPPLIED. <!-- page break --> No. 2 Finance Act 2024 30 DISTRIBUTED BY VERITAS E-mail: veritas@mango.zw Website: www.veritaszim.net VERITAS MAKES EVERY EFFORT TO ENSURE THE PROVISION OF RELIABLE INFORMATION, BUT CANNOT TAKE LEGAL RESPONSIBILITY FOR INFORMATION SUPPLIED. <!-- page break -->