FISCALISED RECORDING OF TRANSACTIONS

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While not a complete surprise, the Zimbabwe Revenue Authority (ZIMRA) has now intensified its efforts on implementation of the fiscalization project. In Public Notice Number 11 of 2021, the taxman announced that issuance of tax clearances for vat registered taxpayers shall be conditional on full compliance with the fiscalisation regulations contained in Statutory Instrument 104 of 2010 (Fiscalised Recording of…
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UNDERSTANDING PAY AS YOU EARN

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Pay as you earn (PAYE) is the tax paid by employees on remuneration for services rendered to an employer. An employee includes a working director for the purposes of charging PAYE. Remuneration as defined in the income tax legislation includes benefits such as use of company motor vehicle, interest free loans, free housing and furniture as well as allowances granted…
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