Introduction The much awaited Finance Act No 1 of 2019 was gazetted in a Government Gazette Extraordinary dated 20th February 2019, but almost all its clauses have been back dated to take effect from the 1st of January 2019. The Act ratifies Statutory Instrument 205 of 2018 which revised intermediated money transfer tax from 5 cents per transaction to 2 cents per transaction value, revises VAT on imported service rules, introduces the law on payment of VAT in currency of trade, provides ...
Tax relief in respect of mental and physical disability
Introduction Some people are living with disabilities. Whatever the cause of the disability, the government provides tax relief to such taxpayers in the form of a tax credit, which is an amount of money that natural persons can subtract from the taxes that may be due to the Revenue Authority. The value of a tax credit depends on its nature since there are number of tax credits inclusive of the disability, blind, and medical expenses credits. There are named after the type of misfortune ...
The reading is clearly on the wall formalise or ship out
Background There is so much talk in both informal and formal forums of Zimbabwe being a multi- billion dollar economy through the small to medium enterprises. It is believed that not much has been done to formalise the informal sector to allow the collection of revenue from the SME’s, yet SMEs are strongly competing against the big companies for business. In the IMF working paper titled Shadow Economies Around the World: What Did We Learn Over the Last 20 Years? prepared by Lea ...