Commercial Farmers' Union of Zimbabwe
Zim introduces new transfer pricing return for taxpayers Chronicle 25/3/2020 Business Reporter ZIMBABWE has introduced an advance version of the transfer pricing return that taxpayers are directed to file with their annual self-assessment corporate income tax return for the year ended 31 December 2019. Transfer pricing is one of the most topical issues in …
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Tax burden on cars sold to employees Financial Gazette 19/3/2020 Marvellous Tapera THE acquisition of a motor vehicle by an employee from an employer at below market value of the vehicle represents a taxable benefit to the employee. The taxable benefit to the employee is the difference between the market value of the motor vehicle …
Press Statement – MEASURES TO STABILISE THE EXCHANGE RATE AND REDUCE INFLATION
VAT claims on imported services Financial Gazette 12/3/2020 Marvellous Tapera PRIOR to 2019, only persons who were not VAT registered operators and those consuming or utilising imported services to produce exempt supplies would bear the burden of VAT on imported services. This changed with effect from January 1; 2019 when the government extended the …
Treasury in $3bn surplus Chronicle 12/3/2020 Minister of Finance and Economic Development Professor Mthuli Ncube Business Editor FINANCE and Economic Development Minister, Professor Mthuli Ncube, says Treasury will maintain a cash budgeting framework despite having a $3 billion surplus, so as to minimise fiscal deficit. Fiscal indiscipline and uncontrolled money supply growth have in …
UPDATED: Government dumps interbank rate Chronicle 12/3/2020 Prof Mthuli Ncube Prosper Ndlovu, Business Editor BANKS and Bureaux De Change operators can now freely trade foreign exchange subject to market forces after Government liberalised the forex trading market as part of measures to arrest exchange rate volatility and inflation. To buttress the decision, Treasury has …
Suspension of duty on motor vehicles imported for use by physically handicapped persons Chronicle 5/3/2020 In terms of the in terms of Section 120 of the Customs and Excise Act (Chapter 23:02), as read with Statutory Instrument 257 of 2003 and Statutory Instrument of 101 of 2011, a physically handicapped person can import one …
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New Act curtails shelf company manipulation Herald 27/2/2020 Ishemunyoro Chingwere Business Reporter Some criminals that for long, have been manipulating the laxity around the registration of shelf companies, will have their shenanigans curtailed by new provisions of the recently promulgated Companies and other Business Entities Act (Chapter 24:31), Herald Finance & Business can reveal. The Act, …
New law forces companies to submit annual returns by Staff reporter NewsDay 25/2/2020 GOVERNMENT has gazetted a new law which forces private, public and shelf companies to submit annual returns within 21 days after the date of the anniversary of their incorporation. Statutory Instrument 46 of 2020 is a follow-up to the Companies and Other …
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Zimra configures customs clearance system Herald 25/2/2020 Zimra Thupeyo Muleya Beitbridge Bureau The Zimbabwe Revenue Authority (Zimra) has configured the Automated System for Customs Data (ASYCUDA) to accept the clearance of designated goods in foreign and local currency. The move is expected to minimise technical challenges importers have been facing in processing the customs …