We often get enquiries on the VAT treatment of deposits. This may be because there are different types of deposits with different VAT rules for each. I thought that it would be helpful for all the rules to be set out in one place, and some comments on how certain...
What is an imported Service? Section 2 of the VAT Act provides a definition of an imported service. An imported service is a service made by a supplier who is resident outside Zimbabwe or carries on business outside Zimbabwe to a resident of Zimbabwe. The notion of...
The Finance Bill, 2024, is a comprehensive legislative document aimed at modifying Zimbabwe's tax and financial landscape. It introduces significant changes across various tax domains, including income tax, capital gains tax, value-added tax, customs and excise...
On the 25th of July 2024, the Minister of Finance presented the Midterm budget with the "theme" “CONSOLIDATING ECONOMIC TRANSFORMATION”. Highlights of the 2024 Economic Midterm Budget Statement. On the global economic developments, the IMF expects the global economy...
The Zimbabwe Revenue Authority (ZIMRA) requires businesses to declare and pay tax in the same currency they conduct the transaction in. This is to ensure transparency and proper tax collection. This requirement is mandated by Zimbabwean law, specifically Section 4A of...
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