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,...
by Great Paraxy | May 18, 2023 | Tax
Pay As You Earn (PAYE) is a system of withholding income tax from employees’ salaries before they are paid. The employer is responsible for calculating and deducting PAYE from employees’ salaries and remitting it to the Zimbabwe Revenue Authority (ZIMRA)....
by Great Paraxy | May 18, 2023 | Tax
Value-added tax (VAT) is an indirect tax that is added to the cost of goods and services at each stage of production and distribution, until it is finally paid by the consumer. The VAT rate in Zimbabwe is 15%. VAT is a consumption tax, which means that it is paid by...
