Introduction Signing contracts is not just a matter of appending your signature on paper but a matter of life and death. Caveat subscriptor is a trite principle at law which is roughly translated as “signatory beware”. It entails that the signatory is bound by his signature and cannot deny existence of obligation included in the document he has signed. The parties involved in a contract, the risk involved and the rights and responsibilities to be carried out under the contrac ...
Assessed loss is a tax advantage
Introduction The tough economic environment is taking a toll on most businesses albeit revelations that at least one company liquidates each day. Some are warming up for closure whilst others continuously post losses. Losses are not bad for tax purposes but what is key is for a business to stay afloat and hoping that one day fortunes will turn. The tax law recognises that loss represents an expenditure that can be used to reduce one’s future taxable income and consequently the tax bi ...
Tax incentives for farmers
Introduction The agriculture sector largely influences the economic, social and political lives of the majority of people in Zimbabwe. It is also the source of sustenance for most rural Zimbabwean. At commercial level, the sector produces export crops such as tobacco, cotton and horticulture products which bring in foreign currency and improves the balance of payment. It is one of the biggest employer in Zimbabwe and also the key to the success of downstream industries, among them the ...