Staff Reporter
In a bid to enhance revenue collection, the 2025 National Budget has introduced higher taxes on betting activities.
Winning punters at betting houses in Zimbabwe have to pay 10percent withholding tax on gross winnings.
The tax will take effect from 1 January 2025.
Finance, Economic Development and Investment Promotion Minister Mthuli Ncube presenting the ZiG276,4 billion national budget yesterday emphasized the government’s need to tap into this growing industry.
“The betting sector has seen remarkable growth, and it is only fair that it contributes significantly to the fiscus. I propose to introduce a 10% withholding tax on gross winnings effective 1 January,” Ncube said.
The proposed measures include increased excise duty on betting transactions, aimed at broadening the revenue base.
This move is expected to generate substantial income for national development initiatives, though it may face pushback from industry stakeholders.