OUR world has evolved and we now live in the “information age”. The implication is that companies that are leveraging on Information Technology (IT) are set to achieve lower costs and higher returns in the new era. Globally, IT has disrupted most industries. A few examples include Uber in transport, AirBnB in hospitality and PayPal…
Capital allowances are incentives granted to taxpayers incurring expenditure on business assets. They are available on qualifying capital expenditure incurred on the provision of certain assets to be used in the production of income or for the purposes of trade. There are of two types, namely Special Initial Allowance (“SIA”) and Wear & Tear (“W&T”).…
IN A year which many would like to quickly forget, the Zimbabwe Stock Exchange (ZSE) had what could possibly go down as its most eventful period ever. The local bourse swung to record highs, witnessed a flurry of delistings and went for six straight weeks without trading after it was suspended by government following accusations…
THE Confederation of Zimbabwe Retailers (CZR) says the decision by the Zimbabwe Revenue Authority (Zimra) to collect 15 percent Value Added Tax (VAT) on rice backdated to 2017 has serious ramifications on the retail sector. This comes as the tax collector directed suppliers and packers of 25kg or less to pay 15 percent VAT, despite…
ZIMBABWE’S fastest-growing fast food chain, Hotplate Grillhouse Zimbabwe, is set to capture a large chunk of the market share after going on an innovative expansion drive. Hotplate Grillhouse’s expansion is being driven by a US$400 000 investment made in the business to respond to growing demand for its services. Benson Muneri, the company’s chief executive,…
ZIMBABWE Revenue Authority (Zimra) commissioner general (CG), Faith Mazani is set to leave the organisation at the end of January and will rejoin the International Monetary Fund (IMF), Zimra board vice chairperson Josephine Matambo has said. In a statement, Matambo, credited Mazani for the positive turnaround of the organisation during her tenure in office. “We…
RESERVE Bank of Zimbabwe (RBZ) governor John Mangudya says the recent uptick in demand for goods is spurring price increases, as businesses capitalise on arbitrage opportunities. This comes after public concerns that the current pricing regime was not in tandem with the prevailing “stability” as the Zimbabwean dollar is holding steady against the United States…
THE government will rope in pension funds and development partners to capitalise the restructured Agribank ahead of its opening as a land bank in the first quarter of 2021, Agriculture minister Anxious Masuka has said. The remodelling of the bank is one of the key movers of government’s agricultural transformation strategy and Masuka told reporters…
ZIMBABWE’S telecommunications sector struggled to maintain and expand infrastructure in the third quarter because of foreign currency challenges and limited liquidity, the industry regulator has said. In a sector performance report, the Postal and Telecommunications Regulatory Authority of Zimbabwe’s (Potraz) said a 74 percent increase in operating costs had also resulted in rising cost of…
ZIMBABWE’S foreign currency earnings from hunting fell by 97 percent to US$600 000 during the 11 months to November, from US$1,79 million last year, as Covid-19 disruptions took a toll on tourism, the Reserve Bank of Zimbabwe (RBZ) has said. The hunting season in Zimbabwe runs from April to November and the majority of hunters…
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