THE concept of input tax serves as a critical mechanism for tax recovery by businesses engaged in the production of taxable supplies. Input tax is defined as the VAT incurred by a registered operator when acquiring or importing goods and services used in business operations that generate taxable outputs. The eligibility to claim back this…
CONVEYOR belts supplier, General Beltings Holdings says it wants to focus on consolidating market share in energy and cement manufacturing sectors amid strong headwinds in mining set to affect downstream demand for its products. The mining sector is a key market for the group which also supplies chemicals. The group anticipates that demand for its…
Lando Norris had not even taken his helmet off after securing his maiden Formula 1 victory at the Miami Grand Prix before the great and good of the sport began taking turns to congratulate him. Max Verstappen, the man who Norris has become the first to beat in a straight fight this year, was the…
VICTORIA Falls Stock Exchange (VFEX)-listed diversified manufacturing firm Zimplow Holdings is optimistic that various business strategies lined up for this year will withstand strong headwinds arising from the EI Nino-induced drought and falling commodity prices. Zimbabwe’s agriculture-based economy is expected to take a massive hit from this year’s drought which has already been proclaimed a…
KAVANGO Resources Plc (Kavango) is making significant progress at its Hillside gold project in Zimbabwe as it has announced two shallow discoveries that could substantially increase the property’s potential for hosting an open-pit mine. Kavango has identified four priority prospects at the Hillside project, with the goal of discovering one or more large-scale gold deposits…
INVICTUS Energy is currently in discussions with various potential partners for the Cabora Bassa Project. The company aims to develop its resource base and is actively seeking strategic partnerships. In its quarterly activities report for March 2024, Invictus revealed that it had signed confidentiality agreements with several parties, including upstream oil and gas companies and…
LISTED milk products processor, Dairibord Holdings, says it will not pass on the cost of the recently imposed sugar tax on its products to customers but will increase its volume performance to retain profitability. This comes in the wake of rising inflation across the domestic economy that has already weakened consumer purchasing power. The government…
Rafael Nadal says it has been a “very emotional” week after he made his last-ever appearance at the Madrid Open. The former world number one, a five time champion in the Spanish capital, waved an emotional farewell to the tournament after losing in straight sets to Jiri Lehecka. The 37-year-old has indicated he plans to…
FINANCIAL experts in Zimbabwe have expressed optimism that the reporting of three sets of inflation will bolster confidence, noting that the blended consumer price index (CPI) had proven too complex for standard accounting conventions. This comes after significant lobbying by business and economic agents to abandon the blended inflation rates. They argued that it would…
BAKER TILLY Central Africa has expressed concerns about delays in the publication of exchange rates to be used for income tax returns preparation, saying this has disrupted the consistency of tax filings. Taxpayers were initially expected to submit their income tax returns for the year ending December 31, 2023, by this Tuesday. However, the revenue…
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