Rates of VAT; i Standard rate of 15%. Generally, all goods and services are standard rated unless specifically exempted, zero-rated or subject to VAT at a special rate. ii Zero-rate (0%) iii Exemptions-No value added tax is chargeable on exempt supplies. With effect from 1 January 2024 the VAT Regulations were amended as follows:
and Equipment 25% Buildings Charge year Industrial 5% 2017 Commercial 2% Investment Cost of the building allowance on industrial buildingsInitial allowance at 10% 10% Wear and tear allowance at 5% 10,000.00 Initial allowance on industrial buildings 10% Manufacturing, Tourism Motor vehicles 50% Directly used in the trade Plant, Machinery,
Zimbabwe's benchmark interest rate is at 200%, while annual inflation is at 269%. The IMF last month cut its forecast for global growth next year to 2.7%, from 2.9% and sees Zimbabwe's economy ...
Contribution for equipment, construction, extension, maintenance of hospitals and procurement of drugs and equipment. Sect 15 (2) (r1) The amount is limited to US $100 000 or ZWL equivalent per annum per taxpayer. Contributions to a research institution. Sect 15 (2) (r2) The amount is limited to US$100 000 or ZWL equivalent per annum per …
Zimbabwe Revenue Authority - ZIMRA. · April 15, 2021 ·. Rebate of duty on goods imported by a person engaged in the mining industry. According to Section 120 (1) (b) of the Customs and Excise Act Chapter 23:02 as read with Section 113 (1) of Statutory Instrument 154 of 2001 (General Regulations) there is a rebate of duty on …
All Listings. Find Mining Equipment and Machinery; Heavy Machinery and Equipment; and Tools. New, Used and Secondhand. Advertise directly to your targeted market in Zimbabwe.
9. ZIMRA'S DUTY ON MINING EQUIPMENT AND MACHINES. May our parliamentarians change the ZIMRA law or regulations and incorporate artisanal, small to medium-scale mining such that it may have promotions on mining equipment in such a way that duties and taxes are not chargeable so as to grow the small-scale mining …
Zimbabwe's royalty rates range between 5% for gold and platinum group metals and 10% for diamonds. Foreign companies with operations in Zimbabwe include Anglo American Platinum, Impala Platinum ...
1.2. 2nd Quarter 2022 Index of Mineral Production The index of mineral production for 2nd quarter 2022 stood at 117.0, reflecting a year-on-year percentage increase of 5.1 when …
Because the cost of depreciation isn't allowable for tax, capital allowances compensate for this by letting the business deduct the capital allowance from its profit before working out …
S.I.6 of 2016 clearly defines capital equipment for specified industries as: Plant, equipment or machinery which is used exclusively for mining purposes on a registered mining location as defined in the …
ZIMRA RATES OF EXCHANGE FOR CUSTOMS PURPOSES FOR PERIOD 25 TO 31 OCTOBER 2022 USD. ZIMRA RATES OF EXCHANGE FOR CUSTOMS PURPOSES FOR PERIOD 25 TO 31 OCTOBER 2022 USD.pdf. Download. ZIMRA RATES OF EXCHANGE FOR CUSTOMS PURPOSES FOR PERIOD 18 TO 24 october 2022 ZWL.
If importer has no tax clearance certificate (ITF 263) Informal Cross Border Trader's Tax of 10% of the value for duty purposes will be due and payable together with any duties and other charges which may be due before goods can be released by ZIMRA. Payments of duty are done by way of bank deposits into the ZIMRA account.
Taxable Income of a Holder of Special Mining Lease. A holder of a special mining lease, corporate income is taxed at a special rate of 15% instead of the general tax rate of 25%. However, holders of a Special Mining Lease are liable to Additional Profits Tax (APT). The tax is payable upon attaining a formula based level of profitability.
ZIMRA RATES OF EXCHANGE FOR CUSTOMS PURPOSES FOR PERIOD 21 TO 27 OCTOBER 2021 USD. ZIMRA RATES OF EXCHANGE FOR CUSTOMS PURPOSES FOR PERIOD 21 TO 27 OCTOBER 2021 USD.pdf. Download. ZIMRA RATES OF EXCHANGE FOR CUSTOMS PURPOSES FOR PERIOD 30 SEPTEMBER TO 06 OCTOBER 2021 …
Tax Tables. Whistle-Blower Online Portal. 1. MINING –RATES OF ROYALTIES. With effect from the 1 st January, 2011, the rates of royalties have been reviewed as follows:-. …
For Disposal of Property with Deeds. The following documents are required for processing of a Capital Gains Tax clearance certificate. - Fully completed Capital Gains Tax form (CGT1) - Completed ZIMRA registration form (REV1) - Agreement of sale ( copy & original) - Deed of transfer/share certificate ( copy & original) - Copy of proof of payment.
There are three different types of payments upon importation of goods into Zimbabwe: import duty, surtax, and value added tax (VAT) as described in the Harmonized System Tariffs Handbook and other relevant legislation. Most imported goods are subject to surtax and VAT of 15 percent. The government uses the General Agreement on Trade …
Zimra Head Corporate Communications Francis Chimanda told Business Times the tax collector paid out ZWL$679,660,970.09 in refunds as at December 31, 2019. It owed ZWL$436,846,462.26 as at December 31 2019. "Zimra had a target of clearing backlog for 2018 and prior VAT refunds and that was achieved. However, some refunds …
June 16, 2021. 0. THE Zimbabwe Revenue Authority (Zimra) has started executing its recently added mandate of deducting mining royalties, through banking institutions, on behalf of Treasury. The tax authority said yesterday all mining entities and individuals should start complying with the new requirements for remitting mining royalties with ...
The valuation of a gold mine is known by other names such as gold mineral asset valuation and different models or methods are used. For example in South Africa an internationally recognised framework called the SAMVAL Code is used. This code uses a combination of two approaches. The first is the value in use method which …
Taxable Income of a Holder of Special Mining Lease. l A holder of a special mining lease, corporate income is taxed at a special rate of 15% instead of the general tax rate of 25%. l However, holders of a Special Mining Lease are liable to Additional Profits Tax (APT). The tax is payable upon attaining a formula based level of profitability.
Statutory instrument 102 of 2021 Customs and Excise General Amendment Regulations 2021.pdf. Download. S.I. 55 of 2021 Income Tax (Rate of Interest) Notice, 2021. S.I. 55 of 2021 Income Tax Rate of Interest Notice 2021.pdf. Download. S.I. 54 of 2021 Capital Gains Tax (Rate of Interest) Notice, 2021.
The limit on management and general administration expenses is based on such expenses exceeding 1% and 0.75%, respectively, for a company already in production and prior to production, of total tax-deductible expenses. Detailed description of deductions for corporate income tax purposes in Zimbabwe.
Zimbabwe's multi-billion-dollar mining sector has been granted the nod to pay part of their royalties, taxes and rural district council levies in local currency in a major boost for the capital intensive sector. The sector contributes over 60% of the country's export receipts which is used to oil the economy through the importation of raw
By The NewsDay | Apr. 17, 2021 | 2 Min read. BY CHIEDZA KOWO GOVERNMENT has provided a list of mining goods that will attract a debate on duty. In a statement, the …
20% mining deduction on capital expenditure on buildings, rail way lines, equipment, shaft sinking or any similar works. Allowable deduction of actual costs incurred by way of …
ZIMRA RATES OF EXCHANGE FOR CUSTOMS PURPOSES FOR THE PERIOD 01 TO 07 APRIL 2021 USD. ZIMRA RATES OF EXCHANGE FOR CUSTOMS PURPOSES FOR THE PERIOD 01 TO 07 APRIL 2021 USD.pdf. Download. ZIMRA RATES OF EXCHANGE FOR CUSTOMS PURPOSES FOR THE PERIOD 04 TO 10 …
If importer has no tax clearance certificate (ITF 263) Informal Cross Border Trader's Tax of 10% of the value for duty purposes will be due and payable together with any duties and other charges which may be due before goods can be released by ZIMRA. Payments of duty are done by way of bank deposits into the ZIMRA account.
MINING ROYALTIES The following methods shall be used for determining the price for valuation of minerals for the purpose of determination of mining royalties. Mineral Method Rate of Mining Royalty Platinum Concentrate – 85% of price on London metal exchange on the date of the transaction 2.5% Matte – 90% of price on London
S.I.6 of 2016 clearly defines capital equipment for specified industries as: Plant, equipment or machinery which is used exclusively for mining purposes on a …
THE Zimbabwe Revenue Authority (Zimra) has started executing its recently added mandate of deducting mining royalties, through banking institutions, on behalf of the Treasury.. The Zimbabwe tax authority said yesterday all mining entities and individuals should start complying with the new requirements for remitting mining royalties with …
Duty is calculated on the basis of Cost, Insurance and Freight (CIF) value of the imported goods. The CIF value of the imported goods is an aggregate of the cost of goods, insurance, freight and any other charges incurred outsider Zimbabwe. NB: Proof of all these charges must be produced. Clearance Procedure.
rate from US$0,05 to US$0.10 per litre, with effect from ("w.e.f.") 1 January 2023. • To expand the list of capital equipment to be zero rated for Customs duty on importation in the agriculture, mining, energy, manufacturing and health sector. • The suspension of duty on basic commodities will not be extended, the SI expired on 16