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Mthuli Ncube should increase 2% tax to 5%, says Eddie Cross
ECONOMIST Eddie Cross Friday left business executives and other invited guests at the CEO Africa Roundtable in Harare, in shock after he proposed that Finance Minister Mthuli Ncube must increase trans...Published: 6 hrs ago | 1189 | by Staff reporter
Firms evade remitting forex taxes
THE Zimbabwe Revenue Authority (Zimra) says it has detected a string of scams in which some companies charging for goods and services in foreign currency have evaded paying taxes in forex.This...Published: 04 Dec 2020 at 07:20hrs | 683 | by Staff reporter
Econet withholds dividend
ZIMBABWE'S biggest telecommunications company, Econet Wireless, said on Tuesday it recorded a 6,5 percent decline in revenue to $10,1 billion for the half-year ended August 2020, compared to the same ...Published: 03 Dec 2020 at 06:34hrs | 199 | by Staff reporter
Ginimbi cases struck off the roll
THE State has withdrawn fraud, tax evasion and money laundering charges against late businessman and socialite Genius "Ginimbi" Kadungure who was set to appear in court yesterday.Kadungure's l...Published: 02 Dec 2020 at 06:25hrs | 1695 | by Staff reporter
Zimbabwe needs US$123m for fibre cables
ZIMBABWE requires US$123 million to invest in optic fibre to extend the backbone network to reach and serve every district in the country.This was contained in a consultation paper on Zimbabwe...Published: 02 Dec 2020 at 06:23hrs | 254 | by Staff reporter
Sector priorities for NDS implementation
Zimbabwe launched its new 5 year economic blueprint called the National Development Strategy (NDS-1) on 16 November 2020. The new plan succeeds the Transitional Stabilization Programme (TSP) that ends...Published: 01 Dec 2020 at 09:17hrs | 661 | by Victor Bhoroma
'Bank heist as Kuda Tagwirei acquires ZB', says Biti
FORMER Finance Minister, Tendai Biti has described as a ‘bank heist', businessman Kuda Tagwirei's reported acquisition of ZB Bank and becoming a major shareholder against the provisions of the Banki...Published: 01 Dec 2020 at 07:09hrs | 13111 | by Staff reporter
Zimbabwe border posts reopen
The formal legal notice was gazetted yesterday reopening Zimbabwe's border posts today to private motorists and pedestrians, so long as those wishing to enter Zimbabwe have a certificate issued in the...Published: 01 Dec 2020 at 06:50hrs | 1202 | by Staff reporter
Stay out of customs matters, police told
POLICE have no legal right to question citizens over their customs clearance documents, Zimbabwe Revenue Authority (Zimra) commissioner general Faith Mazani has said.Speaking during the Instit...Published: 30 Nov 2020 at 19:06hrs | 3565 | by Staff reporter
Fuel smugglers, tax evaders warned
Government has issued a stern warning to fuel smugglers and tax evaders, as it moves in to plug revenue leakages that have been negatively impacting the country's economic growth.A post-budget...Published: 30 Nov 2020 at 18:28hrs | 675 | by Staff Reporter
SARS seizes US$40 million gold coins from Frank Buyanga
The South African Revenue Service (SARS) seized gold coins weighing over 565 kilogrammes, personal jewellery, watches and cellphones during a raid at the home of the girlfriend of a Sandton-based busi...Published: 30 Nov 2020 at 08:45hrs | 11447 | by Staff reporter
Mthuli Ncube targets US$1bn from Cannabis Levy
THE Government will next year introduce a Cannabis Levy as it angles to tap into the envisaged boom in the production of the crop in the country following the decision to legalise and commercialise it...Published: 30 Nov 2020 at 05:51hrs | 261 | by Staff reporter
Zimbabwe puts cap on sugar imports
THE Government has capped free sugar imports under the Open General Import Licence in a bid to encourage consumption of the locally produced commodity.In the recently announced 2021 National B...Published: 29 Nov 2020 at 06:47hrs | 288 | by Staff reporter
Zimbabwe needs a new ZBC
THE awarding of licences to six national free-to-air commercial television broadcasting stations last week was received with mixed feelings by Zimbabweans. Many hailed the momentous occasion as unpara...Published: 28 Nov 2020 at 07:15hrs | 702 | by Paidamoyo Muzulu
Mnangagwa's govt petitioned over police harassment on taxis
MATABELELAND secessionist group Mthwakazi Republic Party (MRP) has petitioned Home Affairs minister Kazembe Kazembe and Police Commissioner-General Godwin Matanga over harassment of commuter omnibus o...Published: 28 Nov 2020 at 07:13hrs | 799 | by Staff reporter
Mthuli's 'fantasy' budget: Here's how it will affect you
THE 2021 budget presented by the finance minister Mthuli Ncube to Parliament shows that the minister was living in a ‘fantasy world,' according to academic, Professor Austin Chakaodza."Some ...Published: 28 Nov 2020 at 07:12hrs | 3122 | by Staff reporter
Businesses dodge forex tax
Treasury has tightened measures to bring to book businesses that are dodging tax obligations in foreign currency amid concerns that most forex sales in the country are not accurately accounted for, th...Published: 28 Nov 2020 at 07:10hrs | 839 | by Staff reporter
Zimbabwe targets US$1.25bn mbanje exports
ZIMBABWE expects to realise up to US$1.25 billion export earnings from medical cannabis production with Treasury on Thursday proposing to introduce a new cannabis tax to widen the revenue base. ...Published: 28 Nov 2020 at 07:10hrs | 276 | by Staff reporter
'No 2021 tax clearance certificates to improperly fiscalised operators'
Zimbabwe's tax collector has threatened to withhold 2021 tax clearance certificates to all registered business operators that have not properly fiscalised as most operators are not remitting taxes in ...Published: 27 Nov 2020 at 17:23hrs | 2710 | by Staff reporter
Mthuli Ncube reduces taxes
FINANCE minister Mthuli Ncube yesterday gave struggling workers something to cheer about ahead of the festive season when he presented his 2021 National Budget in Harare - significantly easing tax thr...Published: 27 Nov 2020 at 17:09hrs | 2589 | by Staff reporter
Depositors and pensioners to be compensated for exchange losses, says Mthuli Ncube
Depositors with small bank balances and pensioners whose savings were wiped out by currency changes last year will be compensated from a US$150 million fund, finance minister Mthuli Ncube said on Thur...Published: 27 Nov 2020 at 07:56hrs | 6696 | by Staff reporter
Mthuli Ncube piles more misery on Zimbabweans
FINANCE minister Mthuli Ncube yesterday dampened the hopes for a merry Christmas for the majority Zimbabweans after he reviewed the tax-free threshold to $10 000, about half the cost of a monthly bask...Published: 27 Nov 2020 at 07:28hrs | 3938 | by Staff reporter
Mthuli Ncube out of touch with reality
SO much was expected from Finance and Economic Development minister Mthuli Ncube's 2021 national budget, which was presented yesterday. Yet he delivered very little.Zimbabwe has been badly bat...Published: 27 Nov 2020 at 07:26hrs | 1481 | by Staff reporter
Econet hikes tariffs 20%
Econet Wireless Zimbabwe has hiked its voice tariff by 20% to guarantee continued delivery of the service.The latest tariff adjustment comes at a time when government is banking on increased i...Published: 27 Nov 2020 at 07:10hrs | 2126 | by Staff reporter
RBZ swoops on foreign entities
THE Reserve Bank of Zimbabwe (RBZ) has launched an investigation into the conduct of at least 15 foreign-owned companies, which have allegedly externalised millions of United States dollars, according...Published: 27 Nov 2020 at 07:07hrs | 4356 | by Staff reporter
$421.6bn inclusive 2021 budget unveiled
FINANCE and Economic Development Minister, Professor Mthuli Ncube yesterday announced a $421.6 billion National Budget for 2021 in which he handed down tax relief measures to cushion workers and corpo...Published: 27 Nov 2020 at 07:02hrs | 328 | by Staff reporter
Police impound 24 000 kombis, pirate taxis
Police have impounded 24 310 non-Zupco kombis and pirate taxis countrywide for continuing to carry passengers and violating Covid-19 national lockdown regulations. Unregistered vehicles, which...Published: 27 Nov 2020 at 07:00hrs | 308 | by Staff reporter
2020 vehicle imports marginally surpass 2019 despite COVID-19 shutdown
Vehicle imports marginally increased to 40,052 units between January and October this year up from 40,016 units recorded during the same comparative period last year despite the advent of the Covid-19...Published: 26 Nov 2020 at 09:52hrs | 2068 | by Staff reporter
2021 budget: Fitting a round peg in a square hole
THE 2021 national budget due to be presented this afternoon presents one of the toughest challenges for Finance minister, Mthuli Ncube.He is expected to roll out strategies that will help the ...Published: 26 Nov 2020 at 07:27hrs | 399 | by Staff reporter
All eyes on Mthuli Ncube's budget
VENDORS, teachers and retailers are pinning their hopes on today's budget presentation by Finance minister Mthuli Ncube to address key issues affecting their constituencies that have been hard hit by ...Published: 26 Nov 2020 at 07:16hrs | 777 | by Staff reporter
Treasury orders refunds for exempted 2% tax transactions
Treasury has widened exemption on selected foreign currency denominated transactions from the two percent tax in response to submissions by stakeholders. Those considered would now be refunded...Published: 26 Nov 2020 at 07:11hrs | 416 | by Staff reporter
Fraudster 'Mazibuko' granted fifty thousand rand bail for fraud
MPUMALANGA - Osfael Vusimuzi Mazibuko (53) appeared before the Serious Commercial Crime Court in Pretoria on Monday 23 November 2020 after he was arrested on the 18 November 2020 on a warrant of arres...Published: 26 Nov 2020 at 07:04hrs | 461 | by Staff Reporter
Mthuli Ncube shoots down $1,1 trillion budget proposal
FINANCE minister Mthuli Ncube has shot down requests by different ministries and departments for a $1,1 trillion 2021 national budget due to inadequate revenue.Ncube is expected to announce a ...Published: 25 Nov 2020 at 04:45hrs | 3552 | by Staff reporter
1,200 defiant nurses struck off payroll
MORE than 1 200 nurses who failed to comply with a Government directive to revert to the normal working hours did not receive their November salaries and bonuses after they were struck off the payroll...Published: 25 Nov 2020 at 04:41hrs | 1179 | by Staff reporter
Econet marginally adjusts voice bundle tariffs
HARARE - Econet Wireless Zimbabwe (Econet) this week marginally adjusted its voice bundle tariffs in a bid to guarantee continued delivery of acceptable service to its customers.The telecommun...Published: 24 Nov 2020 at 16:31hrs | 2438 | by Agencies
Fitch and Moody's downgrade South Africa's credit ratings further
In a move that Finance Minister Tito Mboweni described as 'painful', rating agencies Fitch and Moody's pushed South Africa's credit rating deeper into the scrap heap of junk with downgrades announced ...Published: 24 Nov 2020 at 05:04hrs | 1665 | by Staff reporter
Activist demands govt to disclose Zimbabwe's total debt
A HARARE lawyer, who is also a disability rights activist has approached the High Court demanding to know the total amount of debt that Zimbabwe owes to internal and external creditors.The act...Published: 24 Nov 2020 at 04:55hrs | 701 | by Staff reporter
Govt to revisit vehicle policy
The Government might soon reintroduce a policy that compels line ministries, departments and State institutions to procure certain types of vehicles only from local producers to aid industrial recover...Published: 24 Nov 2020 at 04:23hrs | 3431 | by Staff reporter
Chamisa impoverishing MDC members on the altar of political correctness
A "RATIONAL economic" Zanu-PF has been masterminding massive wealth transfers to their enlightened members since 2000. The ruling party members are winning on the economic front by creating wealth whi...Published: 23 Nov 2020 at 19:58hrs | 2308 | by Brian Sedze
Govt investigates corona donations
AUTHORITIES are launching a nationwide probe into donated coronavirus funds and other materials, amid fears that significant portions of these gifts were looted by politically-connected individuals, t...Published: 23 Nov 2020 at 06:01hrs | 668 | by Staff reporter
Ginimbi's wealth set to be disclosed this week
THE mystery surrounding the late socialite Genius ‘Ginimbi' Kadungure's wealth is nearing its end, after the Master of the High Court called for a meeting of family members and other potential benef...Published: 22 Nov 2020 at 19:03hrs | 1789 | by Staff reporter
MRP fight to end Corruption at Lupane Registry Office pays off
MRP sometime in June last year raised a red flag on the rampant corruption scandal at Lupane Registry office which is the Headquarters of Matebeleland North.The then acting Registrar General o...Published: 22 Nov 2020 at 07:09hrs | 2845 | by MRP Office of the Presidency
Council cremator stuck in SA
A US$100 000 cremator bought by Bulawayo City Council in Japan in 2017 is still stuck in South Africa after the local authority failed to pay R120 000 in taxes.The cremator was impounded while...Published: 22 Nov 2020 at 04:50hrs | 355 | by Staff reporter
Karo's US$4 billion venture crumbles?
PLANS by Karo Resources (Karo) to set up a US$4,2 billion platinum mining venture and a processing plant in Darwendale after it was controversially allocated claims previously held by Zimplats are cru...Published: 20 Nov 2020 at 06:14hrs | 2221 | by Staff reporter
Govt ranks highest payer, says Mthuli Ncube
THE Government is currently the highest paying employer in the country and pay scales for public servants far outstrip what private sector players are giving their employees, Finance and Economic Deve...Published: 20 Nov 2020 at 05:57hrs | 214 | by Staff reporter
Shocking rates in Harare 2021 budget
An average high-density suburban householder will be paying $1 736 a month from January for basic services, while a family in the modest Mabelreign middle-density suburb will be hit by monthly bills o...Published: 20 Nov 2020 at 05:55hrs | 174 | by Staff reporter
'Too many taxes fueling gold smuggling'
A raft of cumbersome taxes, including refining and royalty payments totalling nearly 18 percent, could be one of the major reasons why people continue to smuggle gold, although Fidelity Printers and R...Published: 19 Nov 2020 at 06:46hrs | 814 | by Staff reporter
19 ZCTU leaders acquitted for 2018 tax protests
NINETEEN Zimbabwe Congress of Trade Unions (ZCTU) leaders, who were arrested for protesting against the high cost of living and the imposition of the 2% transaction tax by President Emmerson Mnangagwa...Published: 19 Nov 2020 at 05:36hrs | 177 | by Staff reporter
Govt has failed to resolve strike by teachers, and all civil servants
The major reason why the Zimbabwe government is failing is in whole part for its reason to resist the tide. For a start, the government has over the decades tried and failed dismally to control th...Published: 18 Nov 2020 at 12:29hrs | 3791 | by Zanda Shumba
Civil servants start getting bonuses
Civil servants will start getting their annual bonuses this month with the last groups being paid out next month. The payments are based on the 41 percent salary rise and new allowance agreed ...Published: 18 Nov 2020 at 05:18hrs | 1520 | by Staff reporter
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