In Zimbabwe, the transition from accounting "profit or loss" to tax "recoupment or scrap allowance" is a critical adjustment in the tax computation. While accounting looks at the Book Value (Cost less Depreciation), taxation looks at the Income Tax Value (ITV) (Cost...
In the Zimbabwean tax landscape, Capital Allowances serve as the bridge between accounting and taxation. While accountants use "depreciation" to reflect the wear and tear of an asset, the taxman (ZIMRA) ignores depreciation entirely. Instead, they provide Capital...
As the tax season reaches its peak, businesses in Zimbabwe are reminded that the Income Tax Self-Assessment Return (ITF 12C) for the 2025 tax year is due on April 30, 2026. (Note: While the 2024 returns were extended to May 2025, the statutory deadline for the 2025...
In Zimbabwe, the concept of "remuneration" for tax purposes is broad. Under the Income Tax Act [Chapter 23:06], it includes not just your basic salary, but almost any advantage or benefit granted to you by your employer. While these perks—known as Fringe Benefits—can...
The landscape of tax administration in Zimbabwe has undergone a seismic shift with the introduction of the Fiscalisation Data Management System (FDMS) and its integration with the Tax and Revenue Management System (TaRMS). This evolution reflects a broader regional...
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