Budget goes pro-people

Budget goes pro-people  Chronicle 15/11/2019   President Emmerson Mnangagwa with Vice President Kembo Mohadi (left) and Minister of Finance and Economic Development, Professor Mthuli Ncube (right) at the presentation of the 2020 National Budget Statement in Harare yesterday Africa Moyo, Harare Bureau FINANCE and Economic Development Minister Professor Mthuli Ncube yesterday presented a pro-people 2020 National …

Income Tax (Transfer Pricing Documentation)

Income Tax (Transfer Pricing Documentation)  Chronicle 14/11/2019   ZIMRA Income Tax (Transfer Pricing Documentation) Regulations, were gazetted on 10th May 2019. These regulations became effective on that date. The regulations outline the documentation that should be maintained by taxpayers for the purposes of transfer pricing. (1) Required documents A taxpayer must have in place contemporaneous …

‘Tax-free threshold unchanged’

‘Tax-free threshold unchanged’  Herald 30/9/2019   Munyaradzi Musiiwa Midlands Correspondent Zimbabwe Revenue Authority (Zimra) has cleared the air on misinterpretations on tax-free threshold stating that it remains at $700 monthly and $3 500 annually. In a statement, Zimra spokesperson Mr Francis Chimanda said initially the tax table in Finance Act No. 2 of 2019 erroneously …

Fiscalisation & interfacing of fiscal devices

Fiscalisation & interfacing of fiscal devices  Chronicle 26/9/2019   Zimbabwe Revenue Authority The Zimbabwe Revenue Authority has noted that some registered operators have not fiscalised the recording of their taxable transactions. It is a legal requirement that registered operators must fiscalise their operations. Registered operators who fiscalise the recording of their taxable transactions must also …