The integration of the Tax and Revenue Management System (TaRMS) and the Fiscalisation Data Management System (FDMS) as outlined in Public Notice 63 of 2025 is a transformative step for Zimbabwe’s tax landscape. While it offers unparalleled efficiency through...
📊 Accounting for the Intermediated Money Transfer Tax (IMTT) Post-January 1, 2026 The Finance Act No. 7 of 2025 marks a significant shift in the tax landscape by making the Intermediated Money Transfer Tax (IMTT) an allowable deduction for corporate income tax...
🗓️ The Tax Point: Understanding Time of Supply in Zimbabwe VAT Legislation The concept of Time of Supply is arguably the most fundamental principle in Value Added Tax (VAT) legislation, dictating the precise moment a transaction is legally deemed to occur for tax...
The General Deduction Formula: Understanding Tax Deductions in Zimbabwe For taxpayers in Zimbabwe, the ability to deduct expenses is a critical factor in determining taxable income. The guiding principle for deductibility is enshrined in the Income Tax Act [Chapter...
Understanding VAT in Zimbabwe: Time of Supply and the Treatment of Advance Payments The Value Added Tax (VAT) system in Zimbabwe, governed by the VAT Act [Chapter 23:12], is a critical component of business operations and tax compliance for registered operators. Two...
Feel free to follow us on social media for the latest news and more inspiration.