In the past the computation and declaration of PAYE was not an issue because the bond notes and the United States dollars were treated on a 1:1 basis and it also did not matter the currency of tax payment to the ZIMRA. In the advent of the promulgation of regulations governing monetary issues namely statutory instruments 32 and 33 of 2019, it has become difficult dealing with payroll issues especially in cases where earnings are both in RTGS dollars (RTGS$) and in foreign currency. An issue for ...
Are partnerships a tax effective way to structure a business?
Background Structuring a business as a company is often seen as a fashion without considering the tax and commercial implications that may arise from such a choice. To many, being in business is synonymous with running a company, when in fact a company is one among many ways of structuring a business. Choosing a structure that reflects your financial, tax and administrative needs is of paramount importance. Traditionally, limited companies have been selected as a way to secure the protection of ...