BUSINESS NEWS

Sugar firm in $45m tax storm

Zimbabwe Sugar Sales (ZSS) Ltd, a company that sells and distributes sugar on behalf of Hippo Valley Estates and Triangle Limited, has been caught up in a $45 million tax evasion storm. The Zimbabwe R...

By Staff reporter | Published: 17 September 2018

BUSINESS NEWS

Tax reforms loom

The Zimbabwe Revenue Authority (Zimra) has called on taxpayers to take advantage of the 2019 national budget consultations that are expected to commence soon, to propose changes, if any, to some secti...

By Staff reporter | Published: 13 September 2018

INDUSTRIALS & ENERGY

Petrotrade in $3,75m tax profit

State petroleum company, Petrotrade has - for the third year running declared a dividend to Government after registering an after tax profit of $3,75 million for the year ended December 2017. Speaking...

By Staff reporter | Published: 12 September 2018

BUSINESS NEWS

Zimra embarks on tax administration reforms

THE Zimbabwe Revenue Authority (Zimra) says it is ready to contribute to a "new dispensation" through tax administration reforms, which seek to simplify tax rules and help taxpayers to meet regulatory...

By Staff reporter | Published: 10 September 2018

BUSINESS NEWS

Zimra official in nasty tiff with tax whistleblower

AN acrimonious fight between a top Zimbabwe Revenue Authority (Zimra) official and a whistleblower has reportedly prejudiced the country of millions of dollars with the former allegedly slashing amoun...

By Staff reporter | Published: 10 September 2018

BUSINESS NEWS

Zimra to reform tax collection processes

THE Zimbabwe Revenue Authority (Zimra) says it is looking to reform its tax processes as part of measures to improve collections and expand the tax base.While collections have improved in the first ha...

By Staff reporter | Published: 07 September 2018

BUSINESS NEWS

Mnangagwa's position on Zimra tax penalties lauded

INDUSTRIES in Mutare, most of which are struggling to find their feet following years of economic recession, were left a relieved lot after they met President Mugabe who promised to put to an end the ...

By Staff reporter | Published: 27 July 2018

TELECOMS & TECHNOLOGY

'Airtime tax hurting consumers'

POSTAL and Telecommunications Regulatory Authority of Zimbabwe (Potraz) director general, Dr Gift Machengete, has called for increased collaboration between policy makers and operators towards further...

By Staff reporter | Published: 26 July 2018

BUSINESS NEWS

Zimra to review tax fines

THE Zimbabwe Revenue Authority (Zimra) is considering reviewing downwards interests and penalties on tax defaults amid revelations that a whopping $2 billion was charged in 2017, almost doubling the c...

By Staff reporter | Published: 26 July 2018

BUSINESS NEWS

'Review of taxes, utility costs'

THE change in the indigenisation laws and the ongoing ease of doing business reforms should be complemented with a deliberate review of taxes and utility costs, which continue to frustrate domestic pr...

By Staff reporter | Published: 18 July 2018

BUSINESS NEWS

Law Society wins tax exemption case

The Law Society of Zimbabwe (LSZ) has been exempted from Value Added Tax obligations from funds collected from its members' subscriptions, practising certificates and professional development programm...

By Staff reporter | Published: 16 July 2018

BUSINESS NEWS

60% of Zimbabwe's taxpayers in default

The Zimbabwe Revenue Authority (ZIMRA) has been hit by low tax compliance levels as 60 percent of registered taxpayers are not remitting their dues, a senior official said.ZIMRA commissioner-general F...

By Staff reporter | Published: 05 July 2018

BUSINESS NEWS

Zimbabwe exempts World Vision from tax

Government has waived income tax for expatriate staff of World Vision Zimbabwe (WVZ) and projects financed by the United States (US) government.This follows provisions provided for under Statutory Ins...

By Staff reporter | Published: 02 July 2018

BUSINESS NEWS

Zimra calls for Income Tax returns

The Zimbabwe Revenue Authority (Zimra) says the window is still open for the submission of Income Tax Returns, critical for the issuance of tax clearance certificates.Zimra had earlier indicated that ...

By Staff reporter | Published: 28 June 2018

OPINION

Tax amnesty 2018 in respect of motor vehicles

IN an effort to encourage our valued clients to regularise their tax obligations, the Government has, through the Finance Act No. 1 of 2018 published on 15 March 2018, made provisions for granting of ...

By Zimra | Published: 28 June 2018

BUSINESS NEWS

No extension to Zimra's six-month tax amnesty

THE Zimbabwe Revenue Authority (Zimra) has said it will not extend the six-months tax amnesty granted to businesses which expires on Saturday and will descend heavily on tax evaders soon after the exp...

By Staff reporter | Published: 26 June 2018

BUSINESS NEWS

ZIMRA warns against tax breaks for investors

THE Zimbabwe Revenue Authority (ZIMRA) says government should not give tax concessions to investors that erode the country's revenue base as it seeks to drive up foreign direct investment (FDI).ZIMRA ...

By Staff reporter | Published: 15 June 2018

BUSINESS NEWS

Mnangagwa mulls tax incentives to lure investors

PRESIDENT Mnangagwa has implored Finance and Economic Planning Minister Patrick Chinamasa to consider tax incentives and tax holidays for foreign investors to encourage investment and grow the domesti...

By Staff reporter | Published: 15 June 2018

BUSINESS NEWS

'Tax concessions eroding tax base'

Government should balance revenue collection efforts and "open for business" opportunities to minimize substantial losses in potential revenue from multiple tax concessions negotiated by foreign inves...

By Staff reporter | Published: 15 June 2018

BUSINESS NEWS

ZIMRA mulls tax treaties

The Zimbabwe Revenue Authority (ZIMRA) is moving to align its tax laws to bring efficiency in the administration of revenue of the country as this week they embarked on an advanced course on tax treat...

By Staff reporter | Published: 08 June 2018

BUSINESS NEWS

Zimra to curb double taxation

THE Zimbabwe Revenue Authority (Zimra) says it is in the process of negotiating agreements with the country's trading patners to curb the issue of double taxation.Speaking at the official opening of t...

By Staff reporter | Published: 05 June 2018

FINANCIAL SERVICES

Steward Bank profit before tax rises 133%

STEWARD Bank has recorded profit before tax of $32,7 million for the full year ended February 28, 2018, a 133 percent jump from last year's $8,4 million.In statement accompanying the bank's financial ...

By Staff reporter | Published: 04 June 2018

BUSINESS NEWS

Zimbabwe targets tax cuts for SMEs

The Zimbabwe Revenue Authority (Zimra) plans to cut taxes for small to medium enterprises (SMEs) as part of efforts to help them formalise their operations through compliance. A working paper titled ...

By Staff reporter | Published: 04 June 2018

TELECOMS & TECHNOLOGY

Econet after tax profit rise 265%

Econet Wireless Zimbabwe Limited posted an impressive set of full year financial results for the year to February 28, 2018, with after tax profit vaulting 265 percent to $132 million, driven by the fi...

By Staff reporter | Published: 01 June 2018

BUSINESS NEWS

Amnesty attracts few tax defaulters

ZIMBABWE'S tax amnesty programme, which was launched three months ago, has brought in a tiny fraction of millions of dollars government hoped to collect to boost government coffers, The Financial Gaze...

By Staff reporter | Published: 31 May 2018
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