Zimbabwe's 58.2 trillion Zimbabwe dollar budget
Zimbabwe’s Minister of Finance presented a 58.2 trillion Zimbabwe dollar budget to parliament last week. People who understand the budget are seriously concerned.
The cost of passports has increased by 60% from US$120 to $200. Registration fees for vehicles and fuel prices have increased, and highway toll gates have increased by 150% from US$2 to $5 on premium roads and to $4 on all other roads. The cost of everything from food to fuel and everything else that is moved by road will inevitably have to rise as a result.
The new Wealth Tax will see private homes being valued by the government, and if they say your house is worth over US$100,000, you will be charged 1% of the value every year. This fee is on top of the taxes that homeowners already pay.
If you've stashed your cash in a safety deposit box because you don't trust the banks. The Ministry of Finance will give ZIMRA, the revenue authority, powers to open safe deposit boxes "at any time to ascertain the contents," including safe deposit boxes at banks, financial institutions, security companies, and other custodians.