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Tag: tax


Businesses could get away with not paying VAT for USD transactions – Mthuli Ncube on it

As far as Mthuli Ncube is concerned it’s still not dollarisation even when civil servants will be paid in pseudo USD, even when businesses are now required to display prices in USD, even when government charges for services in USD and even when today he proposes that all VAT registered business configure fiscal devices to […]


DStv Explains Why They Had To Increase Prices

Earlier this month, Multichoice Zim announced that subscribers would have to pay more for all DStv packages due to VAT adjustment. For many people there was confusion since Value-Added-Tax actually fell from 15% to 14.5%. If VAT paid is actually lower why are you paying more? Well, Multichoice has explained this saying before 2020 the […]


The Zim Govt Hopes To Incentivise Venture Capitalist Funding By Doing This

Back in November when the National Budget for 2020 was announced, we mentioned that the government declared ZW$500 million through the National Venture Fund which is supposed to start funding startups and SMEs this month. In that same document, I missed a pretty big part of how the government intends to incentivise a venture capital […]


ZIMRA Looking Into Taxing Income Received On Platforms Like Airbnb

ZIMRA’s Commissioner-General Faith Mazani today at the FINGAZ Tax Review Meeting shared the Revenue Authority’s plans to start taxing income received on online platform’s like Airbnb. ZIMRA is currently learning and seeing how best they can do this: With the digital age upon us, as ZIMRA we are catching up with learning, knowledge management and […]


Nigerian Government Considering Taxing Online Purchases

A lot of people ridiculed Mthuli Ncube when he suggested that Netflix should pay taxes to Zimbabwe. I didn’t understand why people took that stance – Netflix is providing a service to Zimbabweans and making thousands from it (that’s a guess on my part). Why shouldn’t government tax them? Anyway, Nigerians are mulling a similar […]


ZIMRA Reviewing Tax System To Better Cater For SMEs

Zimbabwe Revenue Authority (Zimra) announced that they will be reviewing the national tax system in order to better accommodate small to medium businesses. The Herald reports that SMEs currently make up close to 70% of registered taxpayers whilst contributing 20% to total tax revenue. Zimra Commissioner General touched on this in a speech delivered on […]


Econet Cleared Of $100 Million Tax Evasion Case

Yesterday, the Supreme Court dismissed claims by ZIMRA that Econet owed the national revenue authority $100 million that they hid from them through tax evasions. The dispute has been on-going for a number of years with a whistleblower claiming that Econet owed the taxman as much $300 million back in 2014. Edward Mutambanadzo- the whistleblower- […]


Mthuli Ncube: We Are Collecting Over $80m Every Month Thanks To 2% Tax

Our Finance Minister does not miss an opportunity to laud the positive effect that the 2% tax has had on government revenue and once again he has come out and said the revenue collection is growing exponentially. In an interview conducted by the Herald, Prof Ncube claimed that the Ministry is raking in close to […]


Mthuli Ncube Claims UK Is Following In His Footsteps As They Propose Their Own Version Of 2% Tax

The UK announced their planned budget for 2020 and surprise surprise it seems they are also looking at adding a new 2% tax as well. However, their version is less ruthless than ours. The digital services tax might be implemented in 2020 in order to target established tech giants. Previously Amazon and Facebook have been […]


Podcast On The 2% Tax That Is Now In Effect In Zimbabwe

This week we take a dive into the recently effected 2% Tax and what it means. In the mix we also discuss the parallel market rate and how social media contributes to it’s rise and fall. Also in the works is the unfamiliar Old Mutual Implied Rate or OMIR and why it does not follow […]


[Update] New Taxes For Transferring Funds Are Simply Ridiculous

Finance Minister Mthuli Ncube delivered some sombre news at the Monetary Policy Statement. From charging 5c per transfer transaction the government will (with immediate effect) charge 2c for every dollar per transaction. In layman terms, this means you’ll now be charged 2% for every transfer transaction you make. It never rains Where you were paying […]


POTRAZ Calls Government To Reconsider The 5% Tax On Airtime As It Is “Hurting Consumers”

Telecoms regulator, POTRAZ is taking the consumers’ side by calling the government to reconsider the 5% excise duty on airtime. The 5% excise duty was introduced in 2014 as part to raise funds for government expenditure but concurrently in increased the cost of airtime for consumers. POTRAZ general Director, Gift Machengete is saying that government should take time […]


Govt Removes Tax For Swipe Transactions Below $10

Today we were in attendance as Steward Bank launched Kwenga, an affordable and portable Point Of Sale (POS) machine for the masses. Also in attendance was the Deputy Minister of Finance and Economic Planning, Mr Terrence Mukupe. Steward Bank CEO, Lance Mambondiani was understandably all smiles as he unveiled the Kwenga, or Kwengas to be […]


Here’s what the new airtime tax means if you’re a Telecel subscriber

Remember the new airtime tax that the Zimbabwean government announced last month. Operators, starting with Telecel today, are saying how they will factor it into their pricing, and predictably, that tax is being passed on to the subscribers. A statement the operator posted today reads: Please not that due to the recent 5% levy on airtime Telecel will […]


Zim government introduces 5% tax on mobile airtime

An announcement made today by Zimbabwean minister of Finance, Patrick Chinamasa, says the government will, from 15 September onwards now charge mobile operators 5% excise duty tax on airtime. Effectively this likely increase the cost of making a phone call in Zimbabwe. The announcement was made as part of the government’s 2014 Mid-Year Fiscal Policy Review Statement (which you […]


Econet responds tax evasion issue: They paid their agent, but agent didn’t remit

We’ve just received a statement from Econet Wireless Zimbabwe, responding to the allegations in the media yesterday that they evaded duty taxes since 1998 and are under investigation by the Zimbabwe Revenue Authority ZIMRA. Essentially, Econet is saying the article was false and defamatory. But the companies does go on to explain the details of the matter between […]


A Summary: The story of Econet’s tax issue, ZIMRA, and the whistleblower

A local weekly paper, The Financial Gazette, headlined today with “Econet In A Fix As Tax Dragnet Closes In” and went on to explain an tax issue where Econet is said to have been paying less duty on base stations than they were supposed to since 1998. It’s serious to the extent Econet could be made to pay $600 […]


Guide to online shopping in Zimbabwe: Giving the taxman his dues

Unlike cross border trading where you are physically present to smuggle that new shiny laptop in the midst of your clothes or negotiate one of those “side deals”; when making an online purchase you will have to pay the applicable customs duty and or VAT.