Every year, hundreds of thousands of taxpayers end up in debt with ZIMRA because of under reporting or underpaying their taxes whether by mistake or on purpose.Owing ZIMRA can be stressful and worrisome, especially if they place a garnish, lien or levy on your assets...
Understanding Valued Added Tax (VAT) in Zimbabwe. VAT is one of the biggest revenue contributors to our government , besides IMTT and Income Tax. Mechanics of VAT. VAT, is a tax on value added by each registered operator in the production/distribution chain. Imposed...
As a new trader what are my tax obligations to ZIMRA? New businesses are obliged to register with ZIMRA within 30 days of commencing business. ZIMRA registration requirements are explained on this article https://lucent.co.zw/how-to-register-with-zimra/tax/. Tax heads...
Everything small business needs to know about taxes in Zimbabwe. Many small business owners and start-ups think they are beneath ZIMRA scrutiny. Tax is a strange, foreign world, and so it’s easier to just ignore the whole thing.To ensure your small business’s success...
What is Tax Planning? Tax Planning is considering the tax implications of individual or business decisions with goal of minimizing the tax liability. The process of setting goals, developing strategies to reduce tax liability of the business or individual. Tax laws...
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