Zimbabwe just hit foreign tech companies with a new withholding tax that's about to make your Bolt rides and Starlink internet more expensive. Finance Minister Mthuli Ncube dropped this in the budget to replace the old VAT setup, and it covers everything from ride-hailing apps to satellite internet subscriptions. Banks and mobile money platforms have to collect the tax when Zimbabweans pay these offshore services, which closes the loophole that lets foreign companies rake in cash without paying local taxes.
Bolt and inDrive are probably going to pass the cost straight to riders through higher fares or bigger commissions, and Starlink users might see subscription prices creep up unless the company eats the tax itself. The government says it's about fairness since these platforms have been cashing in without contributing to tax revenue, and the move lines up with global trends of taxing digital services. It's part of a bigger revenue push that tweaks VAT and customs duties across the board.
Bolt and inDrive are probably going to pass the cost straight to riders through higher fares or bigger commissions, and Starlink users might see subscription prices creep up unless the company eats the tax itself. The government says it's about fairness since these platforms have been cashing in without contributing to tax revenue, and the move lines up with global trends of taxing digital services. It's part of a bigger revenue push that tweaks VAT and customs duties across the board.
