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Zimra Mining Taxes

  • Understanding Zimbabwe Capital Gains Tax | StartupBiz .

    Nov 29, 2018 · The capital gains tax must be remitted to ZIMRA within 3 working days of the transfer. This is remitted by the depository or representative of the seller, whichever is applicable. A Capital Gains Tax clearance certificate will be issued once any amounts due have been paid and the transaction has been finalized by ZIMRA.

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  • 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 .

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  • Zimbabwe presents 2018 budget proposals

    Input tax not claimed from ZIMRA With effect from 1 January 2018 Input tax not claimed from Zimbabwe Revenue Authority (ZIMRA) is not allowable as a deduction for income tax purposes. Mineral royalties With effect from 1 April 2017 A uniform royalty rate of 2.5% to apply on export of platinum by mining .

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  • New Tax Rates effective 1st January, 2020 – GRA

    New Tax Rates effective 1 st January, 2020. AMENDMENTS TO THE INCOME TAX ACT, 2015 (ACT 896) The Commissioner-General of the Ghana Revenue Authority (GRA) wishes to inform the general public that the following amendments have been made to the Income Tax Act, 2015 (Act 896) by the Income Tax .

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  • CAPITAL REDEMPTION ALLOWANCE In mining. - Tax Law and .

    Dec 09, 2014 · In mining there are no capital allowances (SIA & Wear & Tear) granted on business assets, instead capital redemption allowance (CRA) is granted. CRA is not granted on individual assets but on total capital expenditure. Therefore it is not possible to know the Income Tax .

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  • 1168. Recoupment of allowances and scrapping - SAICA

    1168. Recoupment of allowances and scrapping April, 2004 Included in the recent amendments to the tax legislation are significant changes to the treatment of the effects of disposing of assets. These .

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  • Zimra Mining Taxes

    Zimra Mining Taxes. 2015817be calculated and any underpayments must be remitted to zimra on th before the 30 of april of the following year final return itf12c, which is a self assessment form, must also be submitted on or before the 30th of april of the following yearrading losses can be carried forward for 6years except for mining losses.

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  • 2016 tax reckoner - Grant Thornton Zimbabwe

    Income Tax- Corporate 3 Mining 8 . Mining Contact us Tax relief measures for companies . the withholding tax due to Zimra without any recourse. Contents Income Tax-Corporate Income Tax .

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  • (PDF) Informal sector tax administration in ZIMBABWE

    There is a need for the government to reduce tax rates, increase in taxpayer education, and deal with corrupt ZIMRA officers and giving tax benefits to those who obey the tax laws and .

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  • Zimra faces taxation challenges – Nehanda Radio

    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 .

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  • Zimbabwe Tax Body Orders Companies to Pay .

    Jan 27, 2020 · 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 Monday.

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  • 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

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  • Understanding Zimbabwe Capital Gains Tax | StartupBiz .

    Nov 29, 2018 · The capital gains tax must be remitted to ZIMRA within 3 working days of the transfer. This is remitted by the depository or representative of the seller, whichever is applicable. A Capital Gains Tax clearance certificate will be issued once any amounts due have been paid and the transaction has been finalized by ZIMRA.

    Get Support »
  • P Mines (Pvt) Ltd v ZIMRA (FA 02/11) [2015] ZWHHC 244 (12 .

    In terms of the Income Tax Act, holders of a special mining lease were subject to a corporate income tax rate of 15% against a general mining corporate tax rate of 25%. In addition such holders are levied additional profits tax. The taxable income for a holder of a special mining lease is charged under s 22 of the Income Tax .

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  • Tax Payment Dates - Zimbabwe Revenue Authority

    TAX PAYMENT CALENDAR. The Zimbabwe Revenue Authority (ZIMRA) is encouraging its valued clients to pay their Taxes andCustoms & Excise Duties on time and in full in order to avoid unnecessary penalties and interest, which are levied on late payments. . Mining Royalties. Not later than the 10 th day of the month following the month in which the .

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  • Mining Taxation In Zimbabwe | Ministry of Mines and Mining .

    CORPORATE INCOME TAX. Income Tax is charged in accordance with the Income Tax Act (Chapter 23:06), Section 15(2)f. Income tax on mining operations is levied at 15% for Special Mining Lease Holders and 25% for other mining title holders.

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  • 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.

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  • ZIMRA eServices Portal

    Why. The ZIMRA e-services platform seeks to make it convenient, simple, safe and quick for Zimbabwean citizens and businesses to file their tax returns, make online payments and keep track of their tax .

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  • Zimra faces taxation challenges – Nehanda Radio

    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 .

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  • Mining firms fingered in tax evasion | The Chronicle

    Mining firms fingered in tax evasion. 09 Mar, 2020 - 00:03 2020-03-08T21:17:23+00:00 2020-03-09T00:04:27+00:00 0 Views. . The event was attended by mining executives, consultants, Zimra, .

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  • Zimra faces taxation challenges - Zimbabwe Situation

    As such, the revenue collector called on companies to bear with it during the time it battles to bring all the systems to order. Zimra Commissioner General Faith Mazani revealed this yesterday when she addressed this year's edition of the annual tax review conference in Harare with Finance and Economic Development Deputy Minister Clemence Chiduwa further buttressing the point.

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  • The Zimbabwe 2020 National Budget - KPMG

    Corporate Tax. With effect from 01 January 2020 The definition of payee under withholding taxes related to section 80 for contracts and tenders excludes a non- resident person liable to pay the withholding taxes for fees, remittances, royalties and non-resident non- executive director. IMTT Tax free threshold increased from ZWL20 to ZWL100.

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  • Zimbabewe 2019 mid-term fiscal policy review

    separate US and ZW tax tables. We also highlight the current inconsistency between the tax tables as gazetted (max rate of 45%) and those available on the ZIMRA website as at 30 August 2019(max rate 40%). The ZW 60,000 VAT registration threshold and the annual tax .

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  • PUBLIC NOTICE PAYMENT OF TAX IN FOREIGN CURRENCY

    PUBLIC NOTICE PAYMENT OF TAX IN FOREIGN CURRENCY It has come to the attention of the Commissioner General of the Zimbabwe Revenue Authority (ZIMRA) that some businesses are trading in both RTGS and foreign currencies. Following this observation, ZIMRA has found it necessary to clarify that in accordance with Section 4A of the Finance Act (Chp.

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  • Zimra raids mining companies' bank accounts

    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 .

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  • Zimra collects 45m mining royalties - DailyNews Live

    Jul 23, 2014 · HARARE - The Zimbabwe Revenue Authority(Zimra) collected 45 million in mining royalties arrears in the half year to June 2014 as the tax collector intensifies efforts to boost dwindling earnings.. Gershem Pasi, Zimra .

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  • Zimra faces taxation challenges | The Herald

    Ishemunyoro Chingwere 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 .

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  • Value Added Withholding Tax - Zimbabwe Today

    May 04, 2017 · To this end and with effect from April 1, 2017, the Zimra Commissioner General appointed 20 registered operators, mainly in the mining sector, as Value Added Withholding Tax agents. What is Value Added Withholding Tax? It is a tax .

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  • 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 .

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  • '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.

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