by Great Paraxy | Jan 13, 2023 | Tax
The standard accounting date for tax purposes in Zimbabwe is the calendar year, which runs from January 1 to December 31. This 12-month period is known as the Year of Assessment for most taxpayers. However, the Zimbabwe Revenue Authority (ZIMRA) permits companies to...
by Great Paraxy | Jan 13, 2023 | Tax
Income which is exempt from Income Tax in Zimbabwe. Exempt income is income accruing to a business and not taxable. in tax language, Exemptions are accruals and receipts of revenue nature, which are free of income tax. The following receipts are exempt from tax....
by Great Paraxy | Jan 13, 2023 | Tax
Tax treatment for income accruing from business operations in Zimbabwe. To deduce what constitute business income, we need to define trade.The term business has the same meaning with the term trade. A “trade” is defined in terms of the Act as including any profession,...
by Great Paraxy | Jan 13, 2023 | Tax
Tax treatment of a Partnership in Zimbabwe. A partnership is not a legal persona and is not liable for income tax liabilities. In practice, the taxable income of the partnership is first determined on the basis that it is a separate taxable person. The profits...
by Great Paraxy | Jan 4, 2023 | Tax
Legal ways to reduce your tax liability with ZIMRA. Did you know that you can legally reduce your tax liability with any tax administrator. Though there are various ways in the Zimbabwean Tax Legislation that businesses may you use to avoid paying more than necessary...
