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. Advertisements 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…
CALEDONIA Mining Corporation says results from its Motapa exploration project are “encouraging” after it highlighted the presence of widespread gold mineralisation over a combined strike length of more than nine kilometers.Advertisements Motapa is an exploration project acquired in November 2022, located directly adjacent to the group’s Bilboes gold project in southern Zimbabwe. The project was…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-310527.mp3?cb=1733935843.mp3AXIA Corporation (Axia) says its diesel consumption has significantly dropped thanks to a strategic decision to diversify its energy mix and evade over dependance on “costly” diesel-power generators amid rolling electricity cuts in the country.Advertisements Zimbabwe has endured prolonged power blackouts of up to 16 hours per day this year resulting in industry incurring additional…
THE Treasury has allocated US$1,9 million this year to recapitalise Zimbabwe Women’s Microfinance Bank Limited (ZWMB), aiming to expedite government guarantees and prescribed asset status for the institution.Advertisements This comes as Zimbabwe Women Parliamentary Caucus (ZWPC) chairperson, Maybe Mbohwa, has called for support for ZWMB in mechanising smallholder women farmers. While financial inclusion has been…
THE Ministry of Finance has maintained that Zimbabwe’s gold-backed currency, ZiG, will bring more economic benefits than challenges, even as it has lost value over recent weeks. Since its April launch, the ZiG has experienced volatility, with its value dropping from around 14 to nearly 25 against the US dollar. Currently, it trades at ZiG26,9024…
TO ACHIEVE its ambitious Vision 2030, Zimbabwe must prioritise policy stability and a consistent exchange rate, according to former Zimbabwe Economics Society president Nigel Chanakira. Vision 2030, as outlined by the World Bank, seeks to raise Zimbabwe to an upper-middle-income economy, with a targeted gross national income per capita of between US$3,89 and US$12,06. “We…
TOURIST arrivals in Zimbabwe rose by a modest three percent in the second quarter of 2024, reaching 381 293 compared to 370 191 in the first quarter, as the country’s visitors reached 751 483 in the first half, a recent report reveals. Advertisements The global recovery in tourism, alongside Zimbabwe’s enhancements in transportation infrastructure and…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-310327.mp3?cb=1733932125.mp3BUSINESSES in Zimbabwe are expected to intensify their focus on the informal sector as a primary source of US dollar cash flow, according to a recent report from IH Securities.Advertisements With the informal economy increasingly becoming a stronghold for US dollar transactions, corporates are strategically targeting this sector to secure consistent access to hard currency…
ZIMBABWE’s banking sector is heavily invested in foreign currency-denominated loans, which account for 88,88 percent of total loans and advances, reaching ZiG27,45 billion by mid-2024, according to recent data.Advertisements The Reserve Bank of Zimbabwe (RBZ) Banking Sector Industry Report for the quarter ending June 30, 2024, states that banks have remained committed to funding productive…
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. Advertisements This creates unintended consequences in that the tax liability rests with the person who does not hold any money in their…
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