POLITICS

Mugabe wheelchair-hound, taxpayers to foot $4m bill

THE taxpayer continues to foot former president Robert Mugabe's medical bills, as it emerged President Emmerson Mnangagwa's government gave the deposed strongman US$4 million to cover his hospital exp...

By Staff reporter | Published: 19 January 2019

BUSINESS NEWS

Mthuli Ncube refuses to relax tax thresholds

Finance minister Mthuli Ncube has refused to relax non-taxable income thresholds to $400 saying Treasury needs every penny it can raise to respond to the tough budgetary environment.In his 2019 nation...

By Staff reporter | Published: 02 January 2019

BUSINESS NEWS

Tax exemption for Chinese company

Finance and Economic Development minister Mthuli Ncube said government will refund and exempt China Jiangsu International from Value added Tax (Vat) and income tax dating back to 2012.China Jiangsu in...

By Staff reporter | Published: 31 December 2018

POLITICS

Mthuli Ncube's 2% tax raises $572 million in December

Government says it has surpassed its monthly target for December and raised $572,4 million through the controversial two percent tax.According to Finance minister Mthuli Ncube, revenue generated throu...

By Staff reporter | Published: 31 December 2018

BUSINESS NEWS

Zimra starts forex tax collection

The Zimbabwe Revenue Authority (Zimra) has started collecting taxes, especially Value Added Tax (VAT) and Pay-As-You-Earn (PAYE) in foreign currency from companies that collect payments in that curren...

By Staff reporter | Published: 31 December 2018

BUSINESS NEWS

Mthuli Ncube's 2% transaction tax starts bearing fruit

The two percent transaction tax initiated in October 2018 has started bearing positive results towards addressing the budget deficit.The budget deficit has been described by Finance and Economic Devel...

By Staff reporter | Published: 31 December 2018

INDUSTRIALS & ENERGY

NTS after tax profit doubles

NATIONAL Tyre Services (NTS) reported an increase in profit after tax to $337 051 for the half year to September, but the company fears that fiscal and other monetary measures introduced by authoritie...

By Staff reporter | Published: 24 December 2018

OPINION

Digital tax headache for small economies

Taxation of digital services like Facebook, e-Commerce, cloud services, video streaming, Twitter and Google advertising is a complex global problem.Countries like Zimbabwe, which are beneficiaries but...

By Dr Dennis Magaya | Published: 09 December 2018

INDUSTRIALS & ENERGY

Seed Co in tax avoidance dispute

Zimbabwe's special court for income tax appeal has dismissed with costs a long list of preliminary points made by Zimbabwe Stock Exchange-listed seed manufacturer Seed Co Limited (Seed Co) in its appe...

By Staff reporter | Published: 04 December 2018

BUSINESS NEWS

Mthuli Ncube exemptions on 2% tax

TREASURY has proposed further exemptions to the Intermediated Money Transfer Tax of two cents per dollar transacted following widespread stakeholder concerns and the need to ease cost of doing busines...

By Staff reporter | Published: 28 November 2018

BUSINESS NEWS

Mthuli Ncube piles more tax misery to Zimbabweans

ZIMBABWEANS should brace for more price hikes after Finance minister Mthuli Ncube increased excise duty on petrol and diesel as fundamentals pointed to a worsening economy despite token measures to co...

By Staff reporter | Published: 23 November 2018

MINING & RETAIL

Meikles HY profit after tax up 467%

THE Zimbabwe Stock Exchange-listed conglomerate, Meikles Limited's profit after tax for the half-year ended September 30, 2018 grew by 467 percent to $15,3 million from $2,7 million realised last year...

By Staff reporter | Published: 21 November 2018

BUSINESS NEWS

Mthuli Ncube's 2% tax threatens mines operations

THE mining sector survey says the 2% transactional tax imposed last month has resulted in price increases across the value chain, which, if not reviewed, would lead to suspension of operations by some...

By Staff reporter | Published: 20 November 2018

BUSINESS NEWS

CZR wants 2% tax scrapped

THE Confederation of Zimbabwe Retailers (CZR) is pleading with Government to review the two percent tax on electronic transactions, which it claims is being abused by some unscrupulous entities to des...

By Staff reporter | Published: 20 November 2018

BUSINESS NEWS

'Trade in forex, pay tax in forex'

The Zimbabwe Revenue Authority has directed businesses that are trading in multi-currencies to remit taxes in the same currency in which the goods have been sold. "Zimbabwe Revenue Authority has notic...

By Staff reporter | Published: 19 November 2018

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
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