The Zimbabwe Revenue Authority (Zimra)<\/strong> has revealed that it exceeded its tax revenue target for the first quarter of 2025, pulling in an impressive US$1.506bn. This is slightly past its target of US$1.502bn.<\/p>\n\n\n\n Finance Minister Professor Mthuli Ncube <\/strong>attributes the success to a wider tax net, particularly the introduction of a 10 per cent withholding tax (WHT) on punters’ gross winnings<\/strong> – a measure that’s already paying dividends.<\/p>\n\n\n\n The move forms part of broader tax reforms under the National Development Strategy 1 <\/strong>(NDS1), aimed at turbocharging the country’s economic recovery.<\/p>\n\n\n\n “In terms of the Economic Growth pillar of the National Development Strategy 1, the Minister of Finance, Economic Development and Investment Promotion highlighted that the mobilisation of tax revenue and Non-Tax Revenue has surpassed the first quarter target,” Information Minister Dr Jenfan Muswere<\/strong> said at a recent Cabinet briefing, according to The Herald.<\/p>\n\n\n\n While the sports betting sector<\/strong> has exploded in popularity across Zimbabwe, it’s now also proving to be a goldmine for the fiscus. The new WHT law means every big win at the bookies comes with a 10 per cent tax deduction at the source, no dodging the taxman here.<\/p>\n\n\n\n The 2025 National Budget pegs projected revenue at around US$7.5bn (ZiG 270.3bn), and this strong start suggests Zimra is well on track.<\/p>\n\n\n\n \u201cWe collected US$1.506bn between January and March, indicating that we are on course to achieve\u2026 the target by December this year,\u201d said Zimra Commissioner General, Ms Regina Chinamasa.<\/strong><\/p>\n\n\n\n Other tax initiatives introduced alongside the punters’ tax include a 0.5 per cent fast food tax and the reintroduction of duties on some medical imports.<\/p>\n\n\n\n However, it’s the sports betting withholding tax<\/strong> that’s generated the most buzz.<\/p>\n\n\n\n In the background, Zimra is upgrading its tech infrastructure to bolster tax compliance. Progress is already visible in the phased rollout of the Tax and Revenue Management System<\/strong> and integrations with multiple banks and government departments to tighten the net on tax evasion.<\/p>\n\n\n\n With Zimbabwe’s appetite for betting showing no signs of slowing, the WHT on winnings may prove to be one of the government’s smartest fiscal plays yet.<\/p>\n\n\nSports betting a goldmine for the fiscus<\/h2>\n\n\n\n
Other taxes also contributed<\/h2>\n\n\n\n
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