The digitalisation of work, accelerated by the COVID-19 pandemic, has enabled people to work globally, often for foreign-based employers while residing in their home countries. This shift offers numerous advantages, such as access to a diverse talent pool and potential cost reductions for employers. However, it also introduces complex tax implications for employees residing in Zimbabwe. This artic ...
VAT on Imported Services
The Value Added Tax (VAT) on Imported Services (VIS) in Zimbabwe ensures that services procured from non-resident persons and persons operating their business outside Zimbabwe and consumed by residents are taxed similarly to those supplied by local providers. This article explores the background, relevant laws, detailed VAT regulations, and the impact of VIS on businesses and the economy.VIS appli ...
VAT implications of Non-Profit Making Organisations
The VAT status of non-profit making organisations is a nuanced aspect of tax law that requires careful consideration and understanding. While these organisations often benefit from income tax exemptions due to their non-profit nature, the rules around Value Added Tax (VAT) are slightly different. This article explores the specific exemptions, the practical complexities of these rules and the broad ...
The New Face of Income Tax Computation
The introduction of Section 37AA of the Income Tax Act (ITA) through Finance Act No. 8 of 2022, and the mandate to lodge income tax returns via the Tax and Revenue Management System (TARMS) in Zimbabwean dollars (ZiG), has significantly transformed the landscape of income tax computation in Zimbabwe. This transformation presents both new challenges and complexities, requiring a deep understanding ...