https://lucent.co.zw/tax/what-are-the-requirements-to-for-vat/ The Tax Legislation is made out of three main sources which are; The legislation (Acts) Precedent / Case law / Court Decisions Statutory Instruments. We have seen at fit at Lucent Consultancy to dissect...
Introduction of the 2% Intermediated Money Transfer Tax (IMTT) Towards the end of the 2018 calendar year, the Finance Minister – Professor Mthuli Ncube announced a 2% Intermediated Money Transfer Tax (IMTT) as part of the austerity measures introduced by the...
Introduction of Block Management System : What it entails to Taxpayers. The Zimbabwe Revenue Authority (ZIMRA) hereby notifies all its valued taxpayers that it has implemented a Block Management System (BMS) with effect from 1 January 2023. The BMS involves zoning of...
What is an ITF16 Return. An ITF16 return is an aggregate of monthly P2 returns for a particular year of assessment. ITF16 return is under Pay as you earn (PAYE) tax head. The return is due every 30 days after the end of the year of assessment. What constitute an...
Accounting dates of Assessment. The year of assessment is a period of twelve months ending on 31st December and this is the ordinary year of assessment. The commissioner may, on written application, grant permission to use a different twelve month as the year of...
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