Application to conduct procurement

Application to conduct procurement   Chronicle 28/11/2019  According to Public Procurement and Disposal of Public Assets Act [Chapter 22:23]. Procurement Entity means, a Ministry, department or other division of the Government, or a corporate body established by or in terms of any Act for special purposes laid down in that Act.  The definition also encompasses …

Requirements for exemptions on change of ownership on second-hand motor vehicles

Requirements for exemptions on change of ownership on second-hand motor vehicles    Chronicle 28/11/2019 ZIMRA There are exemptions from payment of special excise duty on change of ownership. Special excise duty is not payable under the following sale, transfer or disposal:  – By way of inheritance;  -To a Private Voluntary Organisation (PVO);  – Between married …

Gwayi-Shangani Dam project allocated $400m in Budget

Gwayi-Shangani Dam project allocated $400m in Budget  Chonicle 15/11/2019   Nqobile Tshili, Chronicle Reporter THE Gwayi-Shangani Dam in Matabeleland North province, one of the strategic development projects under the water and sanitation cluster, has been allocated $400 million in the 2020 National Budget, the Minister of Finance and Economic Development, Professor Mthuli Ncube, said yesterday. Prof …

Minister tackles subsidy distortions

Minister tackles subsidy distortions   Chronicle 15/11/2019  Minister Mthuli Ncube Prosper Ndlovu, Business Editor TREASURY has adopted a targeted subsidy model to curb market distortions arising from the previous blanket subsidy schemes that were being abused by some sectors of the economy.  The measure includes application of a single exchange rate system to further remove unbudgeted …

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 …

Govt fulfils promise to white former farmers

Govt fulfils promise to white former farmers  1 November 10, 2019 12:50 PM Source: Govt fulfils promise to white former farmers | Sunday Mail (Top Stories) Lincoln Towindo TREASURY has released $22 million to 400 white former commercial farmers as part compensation for infrastructure developments on farms compulsorily acquired by Government during the Fast Track Land Reform …