THE Zimbabwe Revenue Authority (ZIMRA) has, in recent years, been using public notices, many of which carry profound implications for taxpayer compliance. Although such notices are ostensibly intended to guide the public on administrative interpretations, a disconcerting trend has emerged: they are being operationalised as though they possess the force of law. This practice has…
ZIMBABWE’S tax system is undergoing significant transformation, shaped by globalisation, technology, policy trends, and socio-economic pressures. This dynamic environment brings complex compliance challenges, but also strategic opportunities for businesses navigating the evolving fiscal terrain.Key legislative reforms were introduced to apply effective from 2025, among them accelerated VAT remittance, 10 percent punters tax, one percent fast…
IT’S a staggering statistic: 90 percent of strategies are never executed. Put differently, 90 percent of organisations fail to implement their strategies. Companies invest time, money, and effort in crafting ambitious strategies, yet most of them never translate into real results. Why? Because too many organisations treat strategy as a one-time event rather than an…
THE legislation relating to the deferment of Value Added Tax (VAT) collection on capital goods has undergone a sea change in the last few months, with each amendment widening the circle of industries falling under this coveted privilege. Until recently, mining, manufacturing, aviation, and agriculture were the sectors that enjoyed the privilege of deferring VAT…
UNDERSTANDING the implications of Zimbabwean tax collection measures requires an appreciation of a taxpayer’s obligation and the extent of the revenue authority’s administrative powers. From the point of assessment by the revenue authority, a taxpayer needs to navigate the complex tax provisions to ensure both compliance and protection of its rights. Tax collection measures are…
IN Zimbabwe, insurance businesses must navigate and comply with many tax obligations. Among these several obligations is the property and insurance commission tax in respect of commission paid to freelance agents or brokers. This creates unintended consequences in that the tax liability rests with the person who does not hold any money in their hands…
FOLLOWING the 2024 Mid-Term Budget Review presented by the Minister of Finance, Economic Development and Investment Promotion, the Zimbabwe Revenue Authority (ZIMRA)’s Public Notice 71 of 2024 introduces significant updates on quarterly payment dates (QPDs) for income tax. The notice provides detailed guidelines for taxpayers with income in both foreign currency and local currency, offering…
TRANSFER pricing is increasingly becoming a focal point for tax authorities worldwide and Zimbabwe is no exception. The Zimbabwe Revenue Authority (ZIMRA) is actively working to prevent Base Erosion and Profit Shifting (BEPS). With the region’s transfer pricing laws still developing, enforcement and compliance have become increasingly stringent. Zimbabwe serves as a key example of…
WITH the full rollout of the Tax and Revenue Management System (TaRMS) set for October 1, 2024, Zimbabwe is on the brink of a significant shift in tax compliance. This advanced system aims to streamline tax processes and increase ZIMRA’s oversight capabilities, leaving businesses with little room for error. It is crucial for organisations to…
Introduction to VAT Reforms: Effective 1 August 2024, Zimbabwe has proposed substantial reforms to its VAT system, exempting certain products to bolster economic growth and improve the affordability of essential goods. Categories of VAT Supplies: Zimbabwe’s VAT system categorizes goods into standard-rated, zero-rated, and exempt supplies. Standard-rated supplies carry a VAT rate of 15 percent,…
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