by Great Paraxy | May 18, 2023 | Business
Effects of VAT registration on businesses? VAT registration can have a significant impact on a business. The main impact is that it will increase the cost of goods and services. This is because VAT is a consumption tax, which means that it is added to the price of...
by Great Paraxy | May 18, 2023 | Tax
Situations where Churches are Taxable in Zimbabwe. Churches in Zimbabwe are generally exempt from income tax and capital gains tax, but they may be liable to value added tax (VAT) if they meet certain criteria.A significant number of church organisations in Zimbabwe...
by Great Paraxy | May 18, 2023 | Tax
Corporate taxes in Zimbabwe are governed by the Income Tax Act (Chapter 23:06). The standard corporate tax rate is 24%. However, there are a number of deductions and exemptions that can reduce the amount of tax that a company owes. Some of the deductions that are...
by Great Paraxy | May 18, 2023 | Tax
Capital gains tax is a tax on the profit made from the sale of an asset, such as a house, shares, or a business. In Zimbabwe, capital gains tax is administered by the Zimbabwe Revenue Authority (ZIMRA). The capital gains tax rate in Zimbabwe is 20%. However, there are...
by Great Paraxy | May 18, 2023 | Tax
Withholding taxes are taxes that are withheld by a payer from a payee before the payment is made. The payer is then responsible for remitting the withheld taxes to the tax authority. Withholding taxes are used in Zimbabwe to collect taxes on a variety of payments,...
