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...
Navigating the Digital Tax Frontier: What TaRMS and FDMS Mean for Businesses The implementation of the Tax Risk Management System (TaRMS) and the Financial Data Management System (FDMS) marks a significant shift in the landscape of tax compliance. With the automation...
Statutory Instrument (SI) 15 of 2024, gazetted on February 9, 2024, serves as a major refining act for Zimbabwe’s Value Added Tax (VAT) framework. It effectively repeals the First Schedule of the principal regulations and replaces it with a comprehensive list...
In Zimbabwe’s ongoing effort to balance fiscal revenue with the need for affordable living, Statutory Instrument (SI) 248 of 2023 stands as a pivotal piece of legislation. Published on December 29, 2023, this SI introduced significant amendments to the Value Added Tax...
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