Following the 2024 Mid-Term Budget Review, the Zimbabwe Revenue Authority (ZIMRA) issued essential guidance on September 23, 2024, regarding the application of Quarterly Payments Dates (QPDs). With the third quarter (Q3) approaching its close, businesses are expected to have paid 65% of their annual tax liability. This requirement could demand immediate adjustments to avoid significant penalties f ...
TaRMS Release 3: A Game-Changer That Could Catch Businesses Off Guard
With the full rollout of the Tax and Revenue Management System (TaRMS) set for 1st October 2024, Zimbabwe is on the brink of a significant shift in tax compliance. This advanced system aims to streamline tax processes and increase ZIMRA’s oversight capabilities, leaving businesses with little room for error. It is crucial for organisations to understand the implications of TaRMS and take immediate ...
VAT pitfalls and traps on Property Sales in Zimbabwe
Understanding the intricate details of Value Added Tax (VAT) in property transactions is critical for both buyers and sellers in Zimbabwe's property market. Ignoring the complex nuances of Value Added Tax (VAT) can lead to severe financial consequences, placing immense pressure on both sellers and buyers. The stakes are high and a lack of diligence could result in unexpected costs that may destabi ...