No. 1688, Gaoke East Road, Pudong new district, Shanghai, China.
No. 1688, Gaoke East Road, Pudong new district, Shanghai, China.
Taxable income of a holder of special mining lease is taxed at a special rate of 15%. ... Value added tax could be deferred on some capital equipment for the exclusive use in mining, manufacturing, agricultural and aviation industries whose investment generally relies on imported capital. ... Any person who produces proof to the satisfaction of ...
Motor Vehicle Duty Rates; Taxpayer Search; Smart Invoice. Information. Practice Note No 2 of 2024 – Smart Invoice; Smart Invoice Portal; FAQs; Learn More; Contact Us; User Manuals & Forms. Taxpayer Portal; Online Portal; Mobile App; Desktop, Laptop & Tablet; Commitment Form; Bulk Item Upload Template; Integrations. Approved Vendor List; VSDC ...
Login to ZIMRA's e-Services Portal: ... What is the current VAT rate in Zimbabwe for 2024? ... Exempt supplies include certain goods and services like water for domestic use, domestic electricity, agricultural equipment, and specific medical services. Detailed exemptions are listed in the Statutory Instrument 15 of 2024.
MINING ROYALTIES The following methods shall be used for determining the price for valuation of minerals for the purpose of determination of mining royalties. Mineral Method Rate of Mining Royalty Platinum Concentrate – 85% of price on London metal exchange on the date of the transaction 2.5% Matte – 90% of price on London
Temporarily imported. In terms of Section 140 of the Customs and Excise (General) Regulations, a rebate of duty may be granted on goods imported temporarily for a project approved by the responsible minister.
Tax rebate on mining equipment - BY CHIEDZA KOWO lFollow us on Twitter @newsdayzimbabwe ... In a statement, the Zimbabwe Revenue Authority (Zimra) said the rebate will be granted only in respect of goods imported or taken out of bond by persons engaged in the mining industry.
The foreign currency values should be expressed in ZWL using the exchange rate ruling at the time of receiving the sales proceeds. The rates for mining royalties as at 1 January 2020 are as follows: MINERAL ROYALTY RATE Diamonds 10% Other Precious Stones 10% Gold – Small Scale Miners 2% Gold – Other Miners
14.1 Are there any special rules applicable to taxation of exploration and mining entities? There are various tax incentives given to miners involved in exploration and mining. For holders of special mining leases, …
Introducing the single account concept in tax payments under the new ZIMRA Tax & Revenue Management System (TaRMS) What is TaRMS? Tax and Revenue Management System (TaRMS) is a new tax administration system that ZIMRA is introducing to replace the current tax payment and administration system being used for Domestic Taxes or inland revenues.
ZIMRA Board. ZIMRA Board Ethics; Client Charter; Social Responsibility; Annual Reports; Revenue Performance Reports ; Integrity Management ; Strategic Plans; ZIMRA Strategy Map; ... (Rate of Interest) Notice, 2021. S.I. 54 of 2021 Capital Gains Tax Rate of Interest Notice 2021.pdf. Download. Details.
Statutory Instrument 6 of 2016 allows importers in specified industries to import capital equipment without paying customs duty and VAT?
Since 2018 Zimbabwe has re-focused its attention on the mining industry's potential, thus re-structuring its policies and regulatory framework. In this article our Mining Law Practice group outlines the Major Mining Tax Highlights for 2024. The new Finance Act, 2023 (No. 13 of 2023),which came into operation on the 1st of January 2024 implements most […]
Buildings, Improvements, Machinery and Equipment used for Commercial, Industrial and farming. Para9(h) 25% SIA from 1/1/2010 or any subsequent year of assessment. Commercial …
The Reserve Bank of Zimbabwe (RBZ) and the Ministry of Finance and Economic Development (MOFED) introduced measures in June 2022 to stabilize the exchange rate and address inflation, including writing the use of the U.S. …
zimra rates of exchange for customs purposes for period 27 august to 02 september 2024 usd. zimra rates of exchange for customs purposes for period 27 august to 02 september 2024 usd.pdf. download. details. zimra rates of exchange for customs purposes for period 20 to 26 august 2024 zig.
Mining - Rates of Royalties ... (Company) 1. MINING –RATES OF ROYALTIES With effect from the 1st January, 2011, the rates of royalties have been reviewed as follows:- Mineral % of gross fair market value of mineral produced ... Created on 09 January 2011 3. ZIMRA Courts Small Scale Miners for Compliance (Story) ... and customs laws.
9. ZIMRA'S DUTY ON MINING EQUIPMENT AND MACHINES. May our parliamentarians change the ZIMRA law or regulations and incorporate artisanal, small to medium-scale mining such that it may have promotions on mining equipment in such a way that duties and taxes are not chargeable so as to grow the small-scale mining industry.
S.I. 203 of 2022 Customs and Excise Tariff Notice 2022 Tariff Handbokk Final.pdf
For any further clarification, kindly contact your nearest ZIMRA office My Taxes, My Duties: Building My Zimbabwe!! Public Notice No. 46/2023, issued on 3/08/2023 @Zimra_11 ZIMRA.ZW Contact Centre 08688007614 [email protected]
Applicable rates of Customs and Excise Duties are set-out in the Customs Tariff Handbook, which is published in the form of a statutory instrument. The applicable rates of duty depend on the category of goods.
The current tax rates and tables are available on the ZIMRA website. Employees may also be eligible for tax credits, such as the elderly, blind, or disabled persons tax credit. ... Companies in the mining sector enjoy generous capital expenditure deductions, duty-free importation of various mining equipment, and other sector-specific benefits ...
A clearing agent who has a bond with ZIMRA or an importer who does in-house clearing and has a bond with ZIMRA can move goods from an entry point (border post) and do the final clearance inland. Goods moved under Removal In Bond are expected to …
information can be obtained from the Finance Act which is available on the ZIMRA website. INCOME TAX 1. Rates of Income Tax With effect from 1 January 2024 the tax free threshold was increased to ZWL$9,000,000.00 for ... company or trust derived from mining operations; v. industrial park developer after 5 years of operations as such;
What are the rates of Capital Gains Tax? - Where the specified asset being disposed of/sold was acquired after the 1 st of February 2009, Capital Gains Tax is chargeable at the rate of 20% of the capital gain.
mining equipment. HOW SHOULD ASSETS OF A CAPITAL NATURE BE TREATED IN THE DETERMINATION OF TAXABLE PROFITS? Capital allowances at the rates provided are to be For more information contact: Call Centre: 4111 Email: [email protected] Website: deducted instead of depreciation for assets of a capital
1. MINING –RATES OF ROYALTIES With effect from the 1 st January, 2011, the rates of royalties have been reviewed as follows:-
4. Any mining company holding a mining license carrying on the mining of base metals is taxed at 30%. 5. Dividends paid by a mining company holding a mining license and carrying on mining operations is taxed at 0%. 6. 20% mining deduction on capital expenditure on buildings, rail way lines, equipment, shaft sinking or any similar works. 7.
be not be renewed, however mining companies will continue to import until expiry of current legislation on 01 December 2022. • Review of flat of excise duty on energy drinks rate from US$0,05 to US$0.10 per litre, with effect from ("w.e.f.") 1 January 2023. • To expand the list of capital equipment to be
Item 2 - Turnover (export) exchange rates. All export earnings are converted to United States Dollars using the average annual cross rate for that particular year. Item 3 - Other Income may include: - Bad debts recovered; Interest received; Company dividends; Profit on sale of assets; Suspense sales allowance granted in the previous year
In a significant legal victory for Zimbabwe Alloy Smelting Company (ZIMASCO), the High Court has ruled that the Zimbabwe Revenue Authority (ZIMRA) cannot collect mining royalties on chrome ore concentrates and ferrochrome produced by the company prior to January 2022. This ruling prevents ZIMRA from claiming over US$10 million and nearly ZWL$1 billion …
