Income Tax Zimbabwe News

This page provides zimbabwe personal income.

Income tax zimbabwe news. Or take it home with a mobile app. Last reviewed 29 september 2020 the zimbabwean tax system is currently based on source and not on residency. Currently section 16 1 d 1 of the income tax act prohibits the claiming of the tax on income as an expense for income tax purposes zncc said. 11 september 2020 deduction of input tax using a tax invoice.

Zimbabwe has implemented the authorised economic operator aeo programme in line with international best practice and the. Late payment of taxes the interest rate for late payment of taxes was increased from 10 per annum to 25 per annum with effect from 1 january 2020. Zimbabwe from the world bank. Section 15 2 of the vat act chapter 23 12.

What was proposed in the 2019 budget. It has been indicated that zimbabwe is considering moving to a residence based system during the current tax reform exercise. Royalties payable by mining companies to the minerals marketing corporation zimbabwe mmcz continue to be payable in foreign currency if the receipts are in foreign currency. Zimbabwe amendments to the income tax act and introduction of new transfer pricing regulations february 2019 the new minister of finance issued a number of proposals to the income tax act chapter 23 06 most of which take effect from 1 january 2019.

Data explore raw data about the world bank s finances slice and dice datasets. Share it with other site users or through social networks. Dollars a month and a rate of 40 percent for people earning more than 15 000 u s. Income tax corporate tax with effect from january 1 2020 the rate of corporate tax was reduced from 25 percent to 24 percent.

E commerce with effect from january 1 2020 satellite tv radio and e commerce. The imtt has tax free thresholds in both local. Personal income tax rate in zimbabwe averaged 40 76 percent from 2004 until 2020 reaching an all time high of 51 50 percent in 2015 and a record low of 24 72 percent in 2020.