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...
Intermediated Money Transfer Tax (IMTT) Amended Tax Rates. With effect from 1 January 2023, The FINANCE (No. 2) ACT, 2022 revised down Intermediated Money Transfer Tax (IMTT) from 4% to 2% on all USD transactions. Amendment of section 22G of Cap. 23:04 With effect...
Value Added Tax (VAT) rate in Zimbabwe. Value Added Tax (VAT) is a tax on consumption. In Zimbabwe, VAT is now levied at 15% as per FINANCE (No. 2) ACT, 2022, gazetted on the 30th of December 2022. VAT was previously levied at 14.5%. What does mean. VAT registered...
30% Withholding Tax on Tenders in Zimbabwe. Finance Act No. 8 of 2022 FINANCE ACT gazetted on the 24th of October 2022. Withholding Tax on contractors threshold as per amendment of Section 80 of Income Tax. Currency Old New ZWL 130,000 500,000 USD 1,000 1,000 Section...
What is Intermediated Money Transfer Tax (IMTT). Towards the end of the 2018, the Finance Minister announced a 2% Intermediated Money Transfer Tax (IMTT) as part of the austerity measures introduced by the government. It is tax levied on each transaction involving the...
Feel free to follow us on social media for the latest news and more inspiration.