ZIMBABWE’S transfer pricing rules are contained in sections 98A and 98B of the Income Tax Act (ITA). The rules came into force retrospectively as of January 1, 2014, because of an amendment to Act promulgated in April 2014. AdvertisementsThe Income Tax Act was further amended, effective January 1, 2016, to clarify the transfer pricing legislation…
https://fingaz.co.zw/wp-content/uploads/penci-text-to-speech/post-312167.mp3?cb=1736950536.mp3IN an era where technology continuously reshapes industries, the field of auditing is undergoing a transformative evolution. AdvertisementsTraditional audits, often characterised by their retroactive nature and considerable time lag, are giving way to a more proactive and efficient approach known as predictive auditing. This shift not only enhances the speed and accuracy of audits but…
INNBUCKS MicroBank Limited (Innbucks) posted a significant growth in revenue from customers’ loan payments ― more than doubling its topline while fees and commissions income also fared positively during the year ended June 30, 2024.AdvertisementsIn its delayed full year results, the group saw its interest income grow by an impressive 960 percent to ZiG96,4 million,…
Elton ManguwoStaff WriterAdvertisementsPOWERSPEED Electrical Limited (Powerspeed) says the shortage of capital on the domestic market has put its expansion plans under serious threat as currency uncertainty continues to deter borrowers from long-term funding.The electrical and hardware supplier said the development was also impeding it from implementing its innovative idea and diversification of its product offering.Most…
NATIONAL Handling Services Zimbabwe (NHS) says starting this year, it will unlock more value from its cargo business by allowing it to operate independently while it focuses on ground-handling business as part of a long-term strategy.AdvertisementsThis comes in the face of financial pressures and shifting market dynamics. NHS is laying out an ambitious plan to…
DELTA Corporation (Delta) says it is moving forward with plans to reshape its Belmont plant in the country’s second-largest city, Bulawayo, over a period of two years in a bid to improve operational efficiencies.The beverage-making company has been actively expanding its production capacity in the past few years and the efforts are beginning to pay…
SUGAR producer Hippo Valley Estates (Hippo Valley) plans to increase its operational efficiency and boost cash generation as it seeks to ease pressure on borrowings.AdvertisementsThe Zimbabwe Stock Exchange (ZSE)-listed group had net borrowings of US$10,9 million in the six months ended September 30, 2024 which was 16 percent above the comparable period prior year of…
GEO Associates, an exploration company that is 80 percent owned by Invictus Energy has been granted a three-year extension to its Special Grant 4571 in Zimbabwe’s Cabora Bassa Basin paving the way for exploration and other works programmes.Advertisements“the Minister of Mines and Mining Development, with the authorisation of the President, has, in terms of section…
THERE is growing momentum in green building practices within the country’s construction industry, according to the Zimbabwe Building Contractors Association (ZBCA).Green building is gaining prominence as the sector strives to reduce its environmental impact and embrace sustainability.ZBCA president, Tinashe Manzungu, highlighted that local banks now require green building components as a prerequisite for infrastructure project…
A turnaround in the finances of Eskom has won praise from investors but they are keeping their eyes on one issue — the company’s struggle to recoup some $5 billion in unpaid electricity bills from cities and towns across the country.AdvertisementsIt’s a debt pile that continues to mount as municipalities themselves fall behind in collecting…
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