Corporate Taxes

Tongaat Hullets, a leading Zimbabwean agri-processing company, is facing financial difficulties after blaming the country’s recent fiscal measures for a decline in profits. The company claims government policies, including suspended import duties on sugar and increased corporate taxes, have significantly impacted its business operations. Despite reporting a net monetary gain, this figure is attributed to inflation adjustments and masks an underlying operating loss. Tongaat Hullets is committed to navigating these challenges but acknowledges the complex economic environment in Zimbabwe.