finance

TAX MATTERS: AI use in tax administration, compliance

https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-301565.mp3?cb=1732287635.mp3AdvertisementsTHE Zimbabwe Revenue Authority (ZIMRA) introduced the Tax and Revenue Management System (TaRMS) as part of their strategy to transform the administration of taxes by using a system that simplifies registration, enhances online services and automates compliance checks. Advertisements The efforts to enhance tax administration and compliance can also be enhanced through the use of…

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Spotlight: Musevenzo on leading the way in Zimbabwean pensions

AdvertisementsMARCH is Women’s Month, a time to celebrate the achievements and resilience of women across the globe. In the challenging world of finance, women are rising to meet complex economic situations and create innovative solutions. In this interview, The Financial Gazette’s Mishma Chakanyuka (MC) caught up with one such woman, the director-general of the Zimbabwe…

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Zimra meets Q1 revenue target

AdvertisementsTHE Zimbabwe Revenue Authority (Zimra) has reported a collection of $4 trillion in tax revenue so far this year, expressing confidence in meeting its quarterly target of $7 trillion by the end of the month. This development comes as Zimbabwe’s resource mobilisation strategy is currently focused on the ordinary citizen due to low domestic output,…

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TOP GEAR: Mercedes-Benz AMG A35 4MATIC SaloonFast but a tad uncompromised

AdvertisementsIT’S my view that the marketing people at M-B have over-used the AMG moniker by applying it to some fairly ordinary models by way of trim differentiation, so it was with more than a measure of anticipation that I welcomed the arrival on my driveway of the real deal, the AMG A35 Saloon.Advertisements The “35”…

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Tourism marks 4pct growth

AdvertisementsZIMBABWE recorded a 4,13 percent increase in tourist arrivals in the fourth quarter of 2023, with 515 336 visitors entering the country, according to the Reserve Bank of Zimbabwe (RBZ). This growth is a continuation of the positive trend set post-Covid-19 and elections, signalling a strengthening of the sector. The RBZ said the rise was…

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TAX MATTER: AI use in tax administration, compliance

https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-301479.mp3?cb=1732287637.mp3AdvertisementsTHE Zimbabwe Revenue Authority (ZIMRA) introduced the Tax and Revenue Management System (TaRMS) as part of their strategy to transform the administration of taxes by using a system that simplifies registration, enhances online services and automates compliance checks.Advertisements The efforts to enhance tax administration and compliance can also be enhanced through the use of Artificial…

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CFI adopts solar energy in retail branches

AdvertisementsBy Kundai Mudzviti Staff WriterAdvertisements CFI Holdings (CFI) has rolled out a solar systems installation program in its retail branches as the firm moves to cushion the adverse effects of power cuts as well as leaning towards cleaner sources of energy. The Zimbabwe Stock Exchange-listed agro-based holding company is also pursuing several initiatives to curb…

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Tobacco farmers reap savings from coal facility

AdvertisementsTOBACCO farmers are currently saving at least US$20 per tonne in production costs, thanks to a coal facility jointly developed by the Tobacco Industry & Marketing Board (TIMB) and Hwange Colliery. TIMB’s head of business development, Tapiwa Chimedza, revealed at a media interface that the partnership with Hwange Colliery has resulted in a 25 percent…

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Nedbank topline surges 21 percent

AdvertisementsNEDBANK Group (Nedbank) has reported a 21 percent increase in revenue for its Southern African Development Community (Sadc) operations, reaching R4,29 million in 2023. This growth was primarily driven by an expansion in net interest margin (NIM) and unrealised forex gains in Zimbabwe. During the same period, Nedbank’s Sadc operations experienced a significant 80% growth…

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Miners struggle as commodity slump bites

AdvertisementsZIMBABWE’S export-reliant mining sector faces mounting pressure as global commodity prices continue to decline. This trend raises concerns for the country’s economy, which depends heavily on the mining industry for foreign currency earnings. In a recent interview with The Financial Gazette, Mines minister, Zhemu Soda, acknowledged the severity of the situation, stating, “The mining industry…

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