THE Zimbabwean economy has experienced recessions in 2019 and 2020, with GDP estimated to have contracted by 6 percent and 4,1 percent, respectively (ministry of Finance estimates). The economic contraction has been a result of output losses in key sectors such as agriculture, mining, manufacturing and tourism. The recession has largely been a result of…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-268156.mp3?cb=1732288705.mp3THE 2020 tax year will be the second year Zimbabwean enterprises with intercompany transactions will be required to submit a Transfer Pricing (TP) return (ITF12C2). This follows the introduction of TP legislation by the country in 2014. In terms of the law, intercompany taxpayers should determine their income tax liability using prices on transactions with…
A UNITED Kingdom-based Zimbabwean lawyer is hoping to push a blockchain technology and digital assets business bill through parliament during the first quarter of 2021. Zimbabwe currently does not have legislation covering digital assets but Prosper Mwedzi is hoping to change that by introducing the private bill to parliament. “If the bill passes into law……
ONE great discussion topic and area of study has to do with defining exactly what a business is and what its obligations are to society at large and to the many stakeholders (customers, shareholders, employees, suppliers and policy makers) participating in the business environment. For most businesses, the focus has been first and foremost on…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-268031.mp3?cb=1732288705.mp3UNDER the current difficult economic environment, employers may wish to cushion their employees by giving them loans where financial institutions are hesitant to do so because of the high default rate. A further advantage of employer provided loans is that they are cheaper than the traditional bank loans. Employer loans are also valuable to some…
BINDURA Nickel Corporation (BNC) says it is optimistic that the current upward momentum on prices will sustain despite geopolitical tensions and surges in Covid-19 cases. Nickel prices increased from an average of US$13 000 to US$17 000 per tonne in 2020. “The nickel market is cautiously bullish with previous sensitivity to the macro-environment, Sino-USA geopolitical…
ZIMTRADE says local companies should consider widening their product range of exports into the United Kingdom as the two countries enter a new trade era after Britain completed its exit from the European Union. Trade between the two countries is still dominated by commodities such as diamonds which constituted 75 percent of total exports in…
THE government should gradually phase out payment of duty in foreign currency to boost confidence in the local currency, the Confederation of Zimbabwe Industries (CZI) has said. CZI said fiscal authorities should take seriously the need to increase the demand for local currency by gradually phasing out payment of duties and taxes in foreign currency.…
ZIMBABWE’s tourism sector is hopeful that the expected rollout of the African Union passport this year will act as a stimulus for new markets for the country. The initiative which had been stalled by the outbreak of the Covid-19 pandemic, was mooted and is being rolled out as part of the African Continental Free Trade…
ZIMBABWE, Mozambique and the Bahamas were the countries most affected by the impacts of extreme weather events in 2019 followed by Japan, Malawi and Afghanistan, a new report shows. According to the Global Climate Risk Index 2021, Zimbabwe lost 4,26 percent of its Gross Domestic Product (GDP) in 2019 when Cyclone Idai ripped through the…
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