zimra tax for mining companies

Tax Rates Zimbabwe Revenue Authority

Income of company or trust. 14(2c) 24%. Income of pension fund from trade or investment. 14(2)d. 15%. Income of licensed investor during first five years of operation. 14(2) e. 0%. Income of licensed investor after first five years of operation. 14(2) e. 24%. Income of a holder of special mining lease. 14(2)(f) 15%. Income of a company or trust

Zimbabwe Revenue Authority

Deduction of input tax using a tax invoice: Section 15:2 of the VAT Act (Chapter 23:12) (Taxman's Corner) Value added tax Value Added Tax (VAT) is an invoice based tax. The tax invoice generated on both cash and credit...

Zimbabwe: Swiss Company 'Running Away From Tax Obligations

Zimbabwe’s tax authorities have accused ABB, one of Switzerland’s most profitable companies, of avoiding $13.4 million in taxes, according to court filings and other documents obtained by ICIJ.

Mining Taxation In Zimbabwe | Ministry of Mines and Mining

ZIMRA Should Disclose Mining Tax Revenue – Mining

Oct 30, 2016· Institutions such as ZIMRA must do more to end the secrecy in the mining sector by publicly disclosing mining tax contribution per each revenue head, mining tax contribution made by each company and per mining project where necessary as well as the cost of tax incentives.

Zimbabwe Revenue Authority

24. Mohammed Musa Wholesalers (Pvt) Ltd. 200000977. 25. N. Richards and Company Masvingo. 200000597. 26. TM Supermarkets P/L. 200000676. 27. Ok Zimbabwe P/L. 200000192

Mining firms fingered in tax evasion | The Chronicle

Mr Chipaza said some mining companies were dipping their hands in smuggling of goods so as to avoid tax. He said other challenges faced in taxing mining industries had to do with money laundering

Zimbabwe Revenue Authority

Domestic Taxes Forms; ZIMRA Bank Accounts; Objections and appeals by clients; Consumer Price Index Domestic Taxes. Up one folder. Transfer pricing Documentation (5) FORM REV 5C_ MINING ROYALTIES. FORM REV 5C_ MINING ROYALTIES REVISED 1606200.pdf. Download. Details. REV 5 B _ IMTT FORM NP4A APPLICATION FOR A TAX DEDUCTION DIRECTIVE. FORM

Zimbabwe Revenue Authority

Value Added Tax (VAT) is an indirect tax on consumption, charged on the supply of taxable goods and services. It is levied on transactions rather than directly on income or profit, and is also levied on the importation of goods and services. This tax was introduced in 2004 to replace the former sales tax regime. Enabling Legislation: -

Tax Tables Zimbabwe Revenue Authority

August to December 2020 PAYE USD Tax Tables. Aug -Dec 2020 Tax Tables USD.pdf. Download

ZIMRA Should Disclose Mining Tax Revenue – Mining

Oct 30, 2016· Institutions such as ZIMRA must do more to end the secrecy in the mining sector by publicly disclosing mining tax contribution per each revenue head, mining tax contribution made by each company and per mining project where necessary as well as the cost of tax incentives.

Mining firms fingered in tax evasion Mining Zimbabwe

THE country could be losing millions in potential revenue through tax evasion among other underhand dealings involving players in the mining sector, according to the Zimbabwe Revenue Authority (Zimra). Although mining contributes nearly 60 percent of the country’s foreign currency earnings and employs thousands of people, the tax authority believes more revenue could be harnessed

ZIMRA Should Disclose Mining Tax Revenue | 263Chat

Institutions such as ZIMRA must do more to end the secrecy in the mining sector by publicly disclosing mining tax contribution per each revenue head, mining tax contribution made by each company and per mining project where necessary as well as the cost of tax incentives.

Mining firms fingered in tax evasion | The Zimbabwe Daily

The Chronicle Prosper Ndlovu, Business Editor THE country could be losing millions in potential revenue through tax evasion among other underhand dealings involving players in the mining sector, ac

Zimra Mining Taxes loznici.cz

zimra tax for mining companies. Mining tax: it's time for all Australians to realise Australians are routinely being told that hefty mining taxes would hinder the country’s largest exports of coal and iron ore. This concern about the competitiveness

Court Still To Finalise BNC US$14m Tax Dispute Amid

Sep 10, 2020· THE outstanding dispute between Bindura Nickel Corporation (BNC) and the tax authority over the failure by the mining company to honour a US$14 million tax

Businesses to pay tax in forex – Nehanda Radio

Jan 29, 2020· The taxes to be paid in foreign currency, it said, include Pay-As-You-Earn, Value Added Tax, Capital Gains Tax and mining royalties. Zimra added that all employers who were paying remunerations in

Zimra raids mining companies’ bank accounts – NewsDay

Nov 21, 2014· THE Zimbabwe Revenue Authority (Zimra) last week reportedly garnished several mining companies’ bank accounts with outstanding taxes in a reportedly desperate move to raise salaries and bonuses

Zimra raids mining companies’ bank accounts

Nov 21, 2014· via Zimra raids mining companies’ bank accounts November 21, 2014. THE Zimbabwe Revenue Authority (Zimra) last week reportedly garnished several mining companies’ bank accounts with outstanding taxes in a reportedly desperate move to raise salaries and bonuses for civil servants.

2016 tax reckoner Grant Thornton Zimbabwe

Aids Levy on tax attributable to a company or trust engaged in mining operations The 3% AIDS levy is levied on tax payable by a company or trust engaged in the business of mining with effect from 1 January 2015. Tobacco levy on growers It was proposed to reduce tobacco levy from 1.5% to 0.75%, with effect from 1 January 2016.

Zimra demands taxes in forex Bulawayo24 News

Aug 21, 2020· Zimra commissioner-general Faith Mazani said: "statutory Instrument 185 of 2020 was aligned with the provision of section 4(a) of the Finance Act which requires that tax be paid in the currency of transaction. In line with sI 185 of 2020, Zimra issued Public Notice Number 40 of 2020 addressing certain business malpractices.

Zimra, BNC US$14m tax dispute drags on | The Chronicle

Sep 14, 2020· Zimra, BNC US$14m tax dispute drags on “It was reported in the previous year that the company was involved in a tax dispute with the tax authorities emanating from tax

Will Zimra’s proposals improve revenue without choking

According to Zimra, the 150 percent positive variance in mining royalties emanated from the removal of sanctions on Zimbabwe’s diamond mining companies enabling the sale of diamonds at Antwerp.

ZIMRA overhauls tax penalty regime Business Times

Apr 05, 2019· Analysts said the government’s revenue collector’s excessive penalties for tax arrears were undermining business. Several companies took a swipe at ZIMRA for continuing to exert pressure on struggling business saying every document audit will result in 100 percent penalty.

Zimra, BNC US$14m tax dispute drags on | The Chronicle

Sep 14, 2020· Zimra, BNC US$14m tax dispute drags on “It was reported in the previous year that the company was involved in a tax dispute with the tax authorities emanating from tax

Mining firms fingered in tax evasion | The Zimbabwe Daily

The Chronicle Prosper Ndlovu, Business Editor THE country could be losing millions in potential revenue through tax evasion among other underhand dealings involving players in the mining sector, ac

Zimbabwe demands companies pay tax in US dollars -

Taxes, including pay-as-you-earn, value-added tax, income tax, capital-gains tax and mining royalties must now all be settled in foreign currency, Zimra said in a statement on Monday. “Foreign currency means the US dollar, euro, British pound, South African rand , Botswana pula and any other foreign currency denominated under the Exchange

2016 tax reckoner Grant Thornton Zimbabwe

Aids Levy on tax attributable to a company or trust engaged in mining operations The 3% AIDS levy is levied on tax payable by a company or trust engaged in the business of mining with effect from 1 January 2015. Tobacco levy on growers It was proposed to reduce tobacco levy from 1.5% to 0.75%, with effect from 1 January 2016.

Inflation Helps Zimra Surpass Revenue Targets | 263Chat

The tax collector netted ZWL 20.112 billion in revenue against a target for the quarter of ZWL 14.089 billion. Inflation has been on a rampage, crawling towards the 1000 percent market in recent weeks, and this saw incomes adjusted upwards as companies sought

ZIMRA overhauls tax penalty regime Business Times

Apr 05, 2019· Analysts said the government’s revenue collector’s excessive penalties for tax arrears were undermining business. Several companies took a swipe at ZIMRA for continuing to exert pressure on struggling business saying every document audit will result in 100 percent penalty.

Zimra forex tax demand sparks outrage #Asakhe CITE

A decision by the Zimbabwe Revenue Authority (ZIMRA) to demand taxes in foreign currency has sparked outrage. In a public notice, ZIMRA said they were local companies which were withholding and collecting Value Added Tax (VAT), Pay As You Earn (PAYE), Capital Gains Tax and other taxes in

‘Zimra getting all its revenue from mining sector’ | The

“There are different tax regimes within the mining sector and that gives rise to conflicting interests. There is lack of trust between the sector and Zimra and this affects revenue streams.

Enhancing mining fiscal linkages Zimbabwe Situation

May 29, 2019· For example, Zimra can disclose mining sector performance per each revenue head corporate income tax (CIT), withholding taxes, customs duty, value-added tax (VAT), and pay as you earn (PAYE), among others. Further, disclosures can be disaggregated to show how major minerals like platinum, gold, diamonds and chrome perform per revenue head.

Will Zimra’s proposals improve revenue without choking

According to Zimra, the 150 percent positive variance in mining royalties emanated from the removal of sanctions on Zimbabwe’s diamond mining companies enabling the sale of diamonds at Antwerp.

Mining tax regime unfair, says Zimra Bulawayo24 News

May 16, 2016· The Zimbabwe Revenue Authority (Zimra) says the country's mining tax regime must be reviewed, in the wake of shrinking royalties over the past year from the sector.

Zimbabwe: Zimra, RBZ Warn Businesses Collecting Forex but

The Reserve Bank of Zimbabwe (RBZ) and ZIMRA Thursday threatened punitive action on some errant businesses that were charging goods and services in foreign currency while paying taxes in local

Zimra supporting voluntary tax compliance Zimbabwe Situation

Aug 16, 2018· On its own and by request from taxpayers Zimra provides free tax education to taxpayers. Usually workshops or seminars are arranged with the offices nearest the taxpayers. Tax education can be provided to individuals, companies, associations and to anyone upon request. Tax

Zimra faces taxation challenges | The Herald

The Zimbabwe Revenue Authority (Zimra) says it is experiencing teething challenges in its tax levying systems as a result of the ongoing transition from the use of the multi-currency system to