AFRICAN funerals are large-scale and can require a significant amount of cash resources – Zimbabwe is no exception.
BUSINESS is pushing for changes to Treasury’s two percent Intermediated Money Transfer Tax (IMTT), to allow companies to classify the unpopular transaction levy as a deductible expense. The government introduced the much-debated levy in 2018, primarily to bring the informal sector into the tax system — with the Zimbabwe National Chamber of Commerce (ZNCC) arguing…
The country’s crime-busting agencies are seriously under-resourced and incapacitated to deal with corruption, Finance minister Mthuli Ncube has acknowledged. This comes as the country has been struggling to decisively deal with the corruption scourge, amid revelations by the Zimbabwe Anti-Corruption Commission (Zacc) that it had early this year identified assets worth over US$7 billion stashed…
CASH shortages are set to persist despite the Reserve Bank of Zimbabwe (RBZ)’s plan to double the amount of physical notes in circulation to $3 billion, analysts have said. This comes after the Financial Gazette reported that the RBZ is set to print a new $50 note as inflation-659 percent as of September sparks demand…
THE National Railways of Zimbabwe (NRZ) says under capitalisation and government neglect is hampering efforts to revive the railway. NRZ board chairman, Martin Dinha said the revival of the national railway was key to the country’s development. “As the major shareholder of NRZ, the government should play a significant role in the revival of the…
PRESIDENT Emmerson Mnangagwa is today expected to deliver the State of Nation Address amid growing labour unrest and rising uncertainty in the wake of the Covid-19 outbreak. While the country has gradually eased restrictions allowing business to return to normal, there is still an air of uncertainty over the full resumption of school. At the…
FALLING into debt may be necessary, but there are problems that come with it. More often than not, the debtor ends up enslaved to the creditor if one defaults in payment. Insolvency, sequestration and liquidation are terms that people hear about frequently, but rarely have they paid attention to them. In these harsh economic times…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-263809.mp3?cb=1732288717.mp3A fundamental reason for the existence of the rules of prescription in tax law is to provide taxpayers with certainty regarding their tax position. There has been an upsurge of re-opening of assessments after the prescription period by the Zimbabwe Revenue Authority (Zimra) and the court has extensively decided on this matter in recent times.…
A recent tweet on Zimbabwe inflation estimates by Professor Steve Hanke, a Professor of Applied Economics at the Johns Hopkins University and senior fellow at the Cato Institute, has caught many by surprise given that his y-o-y inflation of 455 percent is below the official figure of 761.02 percent. Hanke also stated in his tweet…
THE Reserve Bank of Zimbabwe (RBZ) is soon expected to introduce higher denomination notes, as part of a long-stated plan and which will see the amount of physical cash in circulation doubling to $3 billion, officials say. This comes as the country’s monetary authorities in June introduced $10 and $20 notes, as year-on-year inflation spiraled…
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