News: Tax

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...

Types of Tax payable by persons in Zimbabwe. Are you thinking of moving to Zimbabwe or investing in Zimbabwe. We have compiled a list of taxes that you will likely to experience. The taxes are levied by the following legislation. The Income Tax Act [Chapter 23:06] The...

Businesses are liable to remit income tax.The article explores on the computation of business and investment income. It also explains the differences between accounting income and tax income. The determination of business income is the same whether the business is...