HE government has introduced a 15 percent Value Added Tax (VAT) on short term insurance with effect from September 1, 2015. According to a letter written to insurers by the Zimbabwe Revenue Authority (Zimra), short-term insurance is now subject to VAT. “Following the gazetting of the Finance Bill no.8 of 2015, please be advised that short-term insurance is now subject to VAT at the rate of 15 percent, with effect from September 1, 2015,” reads part of the letter dated November 17, 2015.

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