EXPERTS say businesses can demonstrate their commitment to ethical business practices and reduce the risk of facing tax audits by investing in robust transfer pricing documentation. Transfer pricing refers to the pricing of goods, services and intangible assets transferred between related entities within a multinational company. It is an important issue for tax authorities as…
FIRST Mutual Properties (FMP) says its Arundel Office Park project is now 75 percent complete and will be commissioned within four months. It also comes as a number businesses have moved their offices from Harare’s central business district to avoid congestion and traffic. “This is significant to the group, the shareholders and other key stakeholders…
SIMBISA Brands (Simbisa)’s cooking oil consumption declined to 2,61 million litres during the year ended June 30, 2023, compared to 2,86 million litres in the comparable period. Meats, starches and oils are among the ingredients that the regional fast-food restaurant operator uses in its daily operations. The Victoria Falls Stock Exchange-listed group’s oil usage went…
DELTA Corporation (Delta) says consumer spending has continued to be buoyant, driven by stable US dollar pricing, improvements in wages and salaries across various sectors, and election related spending. This comes as the beverages manufacturer reported that group revenue increased by 164 percent to $1,9 trillion in inflation adjusted terms compared to a growth of…
AXIA Corporation (Axia) says it is exploring solar energy to power its operations amid high electricity costs. With the high cost of fuel and rising cost of electricity, renewable energy is quickly becoming a more attractive option for companies in the country. Specifically, solar power is a preferred source for sustainability and cost-effectiveness and a…
COMPANIES listed on the Zimbabwe Stock Exchange (ZSE) and the Victoria Falls Stock Exchange (VFEX) will, starting in January, be required to report on sustainability issues as part of their financial disclosures. This comes as investors have been increasingly incorporating non-financial factors — environmental, social, and governance (ESG) — into their analysis, which has prompted…
ECOCASH Holdings (EcoCash) recorded a 40 percent surge in revenue to $218 billion for the year ended August 31, 2023, compared to $155 billion in the prior period, as the group’s fintech business continued to be the largest revenue contributor. The diversified group’s board chairperson, Sherree Shereni, said 76 percent of the group’s revenue was…
BUSINESS has continued to lobby the government to repeal a law that requires a quarter of all export earnings to be converted to domestic currency. The law was enacted in 2019 to increase foreign currency flows through official channels, which remain limited due to the economy’s high level of informality. The law has been tweaked…
Arbitration is the out-of-court resolution of a dispute between two business parties by an unbiased third party, the arbitrator. Arbitration may appear to the uninitiated as the less appealing relative of litigation. Nonetheless, because of its speedier resolution, cheaper overall cost, and binding ruling, arbitration should be the preferable choice for corporate clients. Arbitration clauses…
THE deputy chief secretary in the office of the President, Willard Manungo says the government has embraced genome editing tools and recognised its immense potential for revolutionising agriculture, health, and conservation of biodiversity among others. Genome editing allows the modification of a genome more precisely than other forms of breeding. It can reduce the breeding…
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