BUSINESS has renewed calls for the government to classify the two percent Intermediated Money Transfer Tax (IMTT) as a deductible expense. This comes after amendments to the Finance Act (No. 8 of 2020), which extend collection of IMTT to include transfers of foreign currency with effect from August 01, 2020, and a number of banks…
ZIMBABWE’S efforts to clear its arrears with international lenders who include the World Bank and the African Development Bank have hit a snag after an unnamed financier dumped the country halfway through negotiations for a funding deal, Finance minister Mthuli Ncube has revealed. The southern African nation owes the international financial institutions together with several…
WHEN it comes to business growth prospects and customer loyalty, a good brand is everything. A brand is defined as an identifying symbol, logo or name that companies use to distinguish their product from others. A combination of one or more of those elements can be utilised to create a brand identity. However, the two…
Democratic Alliance (DA), South Africa’s largest opposition party, has elected John Steenhuisen as its new leader. The 44-year-old, who has acted as interim party leader since its first Black leader Mmusi Maimane stepped down more than a year ago, secured a whopping 80 percent of Sunday’s virtual vote over his competitor, Mbali Ntuli. Steenhuisen’s triumph…
DRIVING around the periphery of the Municipality of Harare, or even in some areas closer to the central business district, one is exposed to an irritating eyesore — the unplanned haphazard urban settlements whose image does not auger well for a city striving to attain world class city status. This is not a problem common…
FINANCE minister Mthuli Ncube is concerned that failing state-owned enterprises (SOEs) will derail Zimbabwe’s rosier 2021 economic prospects. This comes as the government is targeting a gross domestic product (GDP) growth rate of 7,4 percent next year, from a projected official contraction of 4,5 percent in 2020. At the same time, the International Monetary Fund’s…
A TOTAL of 1,26 billion shares worth $5,67 billion were traded on the Zimbabwe Stock Exchange (ZSE) during the third quarter of the year, latest data has shown. In a market report for the quarter ending September 30, Akribos Research Service (Akribos) said Bindura Nickel Corporation dominated trades during the period under review, with 926,8…
FINANCE minister, Mthuli Ncube, says Zimbabwe should minimise the mortgaging of its resources to build better relations with its creditors. The southern African nation which has been shut out by major lenders who include the International Monetary Fund, World Bank and the Africa Development Bank Paris Club has of late relied on the Afreximbank for…
THE Zimbabwe Anti-Corruption Commission (Zacc) is pushing for changes in legislation that would allow it to keep 15 percent of crime proceeds that it recovers. This comes after Finance minister Mthuli Ncube recently conceded that the country’s crime-busting agencies — including Zacc — were seriously under-resourced. “Funding is a challenge and the commission has continued…
THE government is set to crackdown on businesses charging goods in United States dollars and remitting their taxes using the local currency, Finance minister Mthuli Ncube told Parliament recently. This comes as the Zimbabwe Revenue Authority (Zimra)’s tax revenue figures took an 18 percent dip in the first seven months of the year due to…
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