Assuming the office of a public officer (PO) is not a simple matter. There are responsibilities that come with it and in breach, personal penalties including a jail term may be levied on the PO. The PO is the voice of the company regarding tax matters and represents the company in meetings with the tax authority. Any other person wishing to communicate with the tax authority including tax advisors must be authorised by the PO in writing and all communications from the ZIMRA are for the attentio ...
Income tax status of sponsorship expenditure
Making a payment in return for you to have your video with your products and services played at an event, workshop or conference is undoubtedly in connection with production of income. A payment to a football club, or towards a school event, for no exchange of immediate goods or services from the recipient of sponsorship or third parties sounds somewhat a donation. However the fact that sponsorship does not result in an immediate supply of goods, services or benefit to the sponsor should ...
Not all attorney fees are tax deductible
Disputes are a part of humanity, they are inevitable, and most of us will someday need a lawyer to defend us. When you are thinking of getting a divorce, writing or entering into a lease agreement, fighting a tax dispute or you were involved in an accident and want to sue the other driver you will definitely need the services of an attorney where upon legal fees may be payable. Legal fees broadly cover fees for services of legal practitioners, expenses incurred in procuring evide ...