Introduction Digitalisation is the adoption in use of digital technology by the market players, i.e. the use of computers and internet in information transformation. Digital transformation in society has had significant effects on the way we interact with one another through the rise of social media and the way we do business in the internet age. It is destroying physical barriers by allowing companies and individuals to enter new markets in which they have no physical presence. It has also r ...
Law on fuel excise duty refund gazetted
Introduction The government has finally gazetted the law in form of Statutory Instrument 72 of 2019 on 22 March 2019 providing for a refund of excise duty on fuel to specified beneficiaries. This move gives impetus to the Zimbabwe Revenue Authority (ZIMRA) to process the fuel duty refunds as initially announced on 20 January 2019. The government had on the 20th of January 2019 issued a statement providing for relief through refund of excise duty on fuel consumed by registered businesses ...
VAT on imported services now everyone’s responsibility
Introduction Many a times, Zimbabwean residents seek and import the services of non-residents. The services are oftenly wide in range. They include computer software services, machinery repairs and maintenance, legal, actuarial amongst others. As its name suggests, VAT on imported services is payable on the importation of services. With effect from 1 January 2019, imported services was redefined as a result every resident who imports services is required to account for and pay VAT on imported ...