Taxes, indigenisation and transparency: How Mthuli’s new fis, Open for business? Totemic , From the 17th to the 19th all roads headed towards Bulawayo to witness Zimbabwe’s biggest Mining, Engineering and Transport expo, August 9, 2019 , Mining Zimbabwe – A provider valuable intelligence to the Zimbabwe Mining Community
Oct 20, 2017· Source: Miners want 15% tax on platinum exports scrapped – The Zimbabwe Independent October 20, 2017 For the mining industry to maintain and sustain growth, issues related to capital and foreign payments require urgent attention The industry remains in dire need of investment to achieve growth targets for 2018
Input tax not claimed from Zimbabwe Revenue Authority (ZIMRA) is not allowable as a deduction for income tax purpos Mineral royalti With effect from 1 April 2017 A uniform royalty rate of 25% to apply on export of platinum by mining houses operating on a special lease and ordinary mining license With effect from 1 January 2018
Jan 10, 2017· HARARE - Zimbabwe is planning to introduce a new mining tax this year aimed at boosting the country’s depleting revenue streams, businessdaily has established Finance minister Patrick Chinamasa said the country has engaged an unnamed tariff consultancy firm from Norway to come up with the new tax regime
Apr 30, 2015· The government of Zimbabwe has eliminated a 15% tax on diamond sales to stimulate production and attract investment in the sector, amid low international prices for ,
LEGISLATION ZIMBABWE: , Law / Health Law / Insurance Law / Intellectual Property Law / Labor Law / Law Sources / Litigation And Court Procedure / Mining Law / Tax Law / Transport And Maritime Law / .
The mining sector has been a major driver of economic and export earnings growth since dollarisation Consequently, it is of significant importance to explore opportunities in mining taxation .
The research focused on Zimbabwe's tax system It gives the historical context of taxation tracing the major changes in the types, structures and administration of taxes from the pre-colonial era up to 2014 An analysis on the performances of the various tax heads administered by Zimbabwe ,
Mining Contact us TAXATION IN ZIMBABWE Taxation in Zimbabwe is source based and has not changed to residency based system as had been discussed during the course of the year Therefore all income that accrues or is deemed to have accrued in Zimbabwe is taxed in Zimbabwe The tax year in Zimbabwe runs from 1 January to 31 December
5 days ago· Of course, gold traceability must not be used as an excuse to criminalise artisanal mining, an important source of livelihood for over a million people in Zimbabwe Precisely why the Mines and Minerals Amendment Bill must have a special permit for artisanal gold miners How multiple taxes hurt mining
33 Additional profits tax in respect of special mining lease areas 34 Residents’ tax on interest 35 Exemption of petroleum operators and affiliates from certain tax 36 Exemption of holders of special mining leases from certain tax 36A Tobacco levy 36B Automated financial transactions tax 36C Presumptive tax 36D
Dec 13, 2017· THE Mutoko Rural District Council (RDC)said it would soon review the unit tax being paid by black granite miners as the local authority seeks to ,
Oct 20, 2017· ZIMBABWE’S platinum miners are lobbying government to either scrap or defer payment of a 15% export tax on unprocessed ore as the capital-intensive industry pushes for a raft of reforms ahead of the forthcoming national budget By Bernard Mpofu Zimbabwe is a primary producer with the mining industry accounting for over 50% of total exports
Oct 23, 2017· HARARE - The Zimbabwe Revenue Authority (Zimra) is proposing a tough mining regime for miners to ensure that the country gets more tax Zimra’s chairperson Willia Bonyongwe last week said Zimbabwe, like all developing countries, needs to find a more equitable tax regime for the mining ,
certain types of foreign income Non-residents are taxed on Zimbabwe-source income and are subject to a range of withholding taxes some of which may be reduced in terms of a double tax treaty negotiated with the country of the recipient Rates of tax Resident companies Corporation tax: − general rate 25% + 3% AIDS levy − mining companies 25%
Aug 03, 2017· SMALL-SCALE chrome miners in Zimbabwe have written to the government complaining over the country’s chrome pricing regime and mining cost contradictions The government has, through Apple Bridge .
Zimbabwe Tax year – Zimbabwe tax year is the calendar year, for all companies, although taxpayers may seek approval from the Commissioner to use a different accounting year Consolidated tax returns – The consolidation of tax returns is not permissible; each company must file a separate return
REGULATORY FRAMEWORK The Mines and Minerals Act Chapter 21:05 is the principal legislation that governs mining in Zimbabwe The Government is in the process of finalizing amendments to the Act which is intended to: Strengthen security of tenure Simplify the mining titles system Enhance environmental provisions Enhance the use it or lose it principle
Further, mining companies are liable to a 2 percent presumptive tax, an 0,8 percent levy for the Minerals Marketing Corporation of Zimbabwe and they are also supposed to pay huge amounts of money .
Income tax on mining operations is levied at 15% for Special Mining Lease Holders and 25% for other mining title holders ADDITIONAL PROFIT TAX (APT) Additional profits are profits that are gained by holders of Special Mining Leases as stated in the Income Tax Act
Feb 14, 2008· Zimbabwe is perhaps the only country whose colonisation by Europeans was a direct result of its perceived rich and wide variety of gold deposits The Portuguese occupied parts of the country in the 17th century and traded in gold with local miners Following the accounts of the Portuguese, and information gathered by 19th century explorers and hunters, a lot of interest on Zimbabwe,
The Zimbabwe Revenue Authority is taking a leading role in the implementation of the single window platform (an, 09 May 2019 , What is Capital Gains Tax? Capital Gains Tax (CGT) is tax that is levied on the capital gain arising from the disposal of a, 04 May 2019
especially in low and middle income economies, to raise mining taxes and demand state participation in the ownership and development of mining properti Yet ironically, Zimbabwe’s mining industry experienced the worst of all worlds in the sense that, with production volumes falling steeply, it failed to exploit the commodities boom
3 days ago· The cost of revenue forgone to incentivise the mining sector must be monitored and publicly accounted for to weed out overgenerous tax incentiv Government’s move to open Zimbabwe for business must not fuel the race to the bottom: The tax regime must be aligned to regional trends to ensure that mining tax contributions are not undermined
Dec 15, 2017· Source: Government uses tax stick on lithium miners | The Financial Gazette December 14, 2017 By John Kachembere, Markets Editor Finance Patrick Chinamasa LITHIUM producers, who are riding the wave of increased global demand and rising prices, have been jolted by a raft of tax measures proposed by Finance Minister Patrick Chinamasa last week, to drive [,]
INCOMETAX Taxable Income of a Holder of Special Mining LeaseA holder of a special mining lease, corporate income is taxed at a special rate of 15% instead of the general tax rate of 25%However, holders of a Special Mining Lease are liable to Additional Profits Tax (APT) The tax is payable upon attaining a formula based level of profitability
Salary Data & Career Research Center (Zimbabwe) Looking for data about a different country? Do career research and find in-depth salary data for specific jobs , employers , schools , and more
A new “super profits” tax, set at 50 percent, was introduced It kicks in when profits exceed 25 percent of those forecast in a mine’s original feasibility study Miners took another blow in December, when Congo declared cobalt a “strategic” mineral, nearly tripling the royalty rate to 10 percent
Aug 19, 2018· In 2016, Zimbabwe exported $455 million in granite, and the country’s black granite is particularly valued There’s just one problem: Zimbabwe’s miners and mining communities are receiving a pittance of the revenue generated by their natural resource
New tax for miners likely in Zimbabwe – Report Fin24 reported that Zimbabwean miners are to be taxed a new levy to fund exploration activities as the government transforms the Minerals .