Saturday, June 7, 2025
No Result
View All Result
News Report  Zimbabwe
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News
No Result
View All Result
News Report  Zimbabwe
No Result
View All Result
Home News

ZIMRA starts implementing measures set forth by Finance Minister

January 4, 2024
0
ZIMRA starts implementing measures set forth by Finance Minister

The Zimbabwe Revenue Authority (ZIMRA) has started implementing the measures outlined in the budget by Finance Minister Mthuli Ncube. The Minister said these measures aim to support retailers and prevent them from facing unfair competition from informal traders. One of the actions taken by ZIMRA is prohibiting companies that are not registered for Value Added Tax (VAT) from purchasing goods directly from wholesalers. This step is intended to create a more balanced and fair business environment for retailers in Zimbabwe. The measures in the Finance Act are summarised as follows:

Manufacturers are authorised to supply Wholesalers only.
A: The wholesaler must: a) Have a wholesale licence b) Be registered for VAT; c) Have a valid tax Clearance Certificate;

B: Wholesalers which are not VAT registered and do not have a current tax clearance certificate and retailers are no longer allowed to purchase goods from a manufacturer.

C: There is no limit of the value of goods that can be purchased.

Wholesalers must supply:
1. Retailers

A: The Retailer must: a) Have a retail licence b) Be registered for VAT; c) Have a current tax Clearance Certificate;

B: There is no limit of the value of goods that can be purchased.

  1. Any other person which includes: a) Retailers not in 1 above i.e. not registered for VAT. b) Informal traders c) Individuals
  2. Purchases from the same wholesaler should not exceed USD1,000.00 (or its equivalent in ZWL at the auction rate of exchange that prevailed on the date of the purchase) in a period of not less than 30 days; and

  3. Produces a receipt of goods purchased from the same wholesaler that is dated no earlier than 30 days from the date of the last purchase

  4. Any person who purchases for the first time from that wholesaler in any calendar year, or if the person concerned cannot produce a receipt in proof of a previous purchase from the same wholesaler, such person can only purchase goods not exceeding USD20.00 (or its equivalent in ZWL at the auction rate of exchange prevailing on the date of the purchase).

NB:
1) The wholesaler shall retain all copies of receipt produced in proof of previous purchases for a period of at least 3 years, or may scan and store such data in digital format in a manner approved by the Commissioner.

2) A wholesaler who was not operating a facility for the purchase of goods by a person other than a registered operator under the conditions as specified in the table above before the 1st January, 2024, shall not avail such a facility after that date without the leave of the Commissioner in writing.

An “informal trader” is defined in the Finance Act as an individual who carries on a trade for his or her own account but is not a registered operator without limiting the generality of the term, includes—(a) a hawker or street vendor; and (b) a person who sells articles at a place commonly known as a “people’s market” or a “flea market”; and (c) the operator of a tuck shop, that, one who sells good on premises, including residential premises, not licensable by the local authority for the sale of goods on a regular basis; (d) any intermediary for any informal trader or informal traders generally who buys goods from a manufacturer or wholesaler and sells them to informal traders;

Registrations are being done through Kiosks or self-service centres at ZIMRA offices and there after a Tax Clearance Certificate (ITF263) can be issued.

 

SOURCE : PINDULA

Tags: FINANCE minister Mthuli NcubeZimbabwe Revenue Authority (ZIMRA)

Related Posts

Two Zimbabwean Care Home Workers in the UK attacked, one killed

Two Zimbabwean Care Home Workers in the UK attacked, one killed

by Nyathi
June 7, 2025
0

A devastating attack on two Zimbabwean care home workers has left the community in shock and grief. Charity Kaseke, 24,...

Bulawayo Prison Horror-20 Years for Gang Assault

Stranded in Zimbabwe- The Plight of South African Nationals

by Nyathi
June 7, 2025
0

In the sweltering cells of Harare Remand Prison, a group of South African nationals are languishing, their lives put on...

Masvingo Council Official Takes His Own Life

Masvingo Council Official Takes His Own Life

by Nyathi
June 6, 2025
0

A shocking incident has rocked the Masvingo community after Pius Nyatsanza, the Planning and Economic Affairs Executive Officer for Masvingo...

Nephew Butchers  Uncle Over  Goat

Nephew Butchers Uncle Over Goat

by Nyathi
June 6, 2025
0

A chilling incident has shaken the village of Chinyama in Muzarabani, leaving a trail of death and destruction in its...

Truck Driver Loses Life in Brutal Robbery Attack

Truck Driver Loses Life in Brutal Robbery Attack

by Nyathi
June 5, 2025
0

A tragic incident has shaken the transport industry after a truck driver succumbed to severe injuries sustained in a violent...

Hyena Attack Leaves Man Fighting for Life

Hyena Attack Leaves Man Fighting for Life

by Nyathi
June 5, 2025
0

A terrifying encounter between a man and a hyena has left the community in shock. Wiseman Ngozo, a resident of...

Please login to join discussion

Trending News Today

  • Two Zimbabwean Care Home Workers in the UK attacked, one killed

    Two Zimbabwean Care Home Workers in the UK attacked, one killed

    102 shares
    Share 41 Tweet 26
  • ZEP Holders Breathe a Sigh of Relief as SCA Rules in Their Favor

    94 shares
    Share 38 Tweet 24
  • Widow Caught in Bed With Lover a Week After Burying Husband

    174 shares
    Share 70 Tweet 44
  • Its Open Season for Witch Hunters ‘Tsikamutandas’ – TMPC, Police Join Forces

    42 shares
    Share 17 Tweet 11
  • Fake Doctor leaves 23-year-old hypnotized

    40 shares
    Share 16 Tweet 10
  • Sangoma Turns to Lion Snack

    138 shares
    Share 55 Tweet 35
  • Chiredzi: CIO Officer Goes Rogue

    90 shares
    Share 36 Tweet 23
  • Teenager Convicted for Falsely Accusing a Man of Rape

    36 shares
    Share 14 Tweet 9
  • Masvingo Council Official Takes His Own Life

    67 shares
    Share 27 Tweet 17
  • Dead Man Walking , Literally .

    31 shares
    Share 12 Tweet 8

Popular This Week

  • Fatal Dog Attack Exposes Mike Mupinga’s Troubling Past

    Fatal Dog Attack Exposes Mike Mupinga’s Troubling Past

    274 shares
    Share 110 Tweet 69
  • Widow Caught in Bed With Lover a Week After Burying Husband

    174 shares
    Share 70 Tweet 44
  • The Turbulent Life of President Mnangagwa: A Story of Helicopters, Close Calls, and Air Force Angst

    142 shares
    Share 57 Tweet 36
  • Pastor’s Pulpit Shame- Church Leader Caught in Love Triangle

    140 shares
    Share 56 Tweet 35
  • Sangoma Turns to Lion Snack

    138 shares
    Share 55 Tweet 35
  • Serial South African Killer Escapes To Zimbabwe

    111 shares
    Share 44 Tweet 28
  • COVID-19 Variant Alert: WHO Urges Global Vigilance

    110 shares
    Share 44 Tweet 28
  • The Fake Doc- “Take Lacto And Fruits Three Times a Day”

    109 shares
    Share 44 Tweet 27
  • Two Zimbabwean Care Home Workers in the UK attacked, one killed

    102 shares
    Share 41 Tweet 26
  • Daughter and Son-in-Law Swindle Father Out of $100k

    161 shares
    Share 64 Tweet 40

Popular This Month

  • How to Legally Avoid Paying the US$92 ZBC Radio Licence Fee in Zimbabwe

    How to Legally Avoid Paying the US$92 ZBC Radio Licence Fee in Zimbabwe

    600 shares
    Share 240 Tweet 150
  • Bulawayo Police Bust Vuzu Party, Arrest 13 Youths

    324 shares
    Share 130 Tweet 81
  • Unhealed Wounds-Remembering the 21 Mothers of Emkhonyeni Who Were Burnt Alive

    314 shares
    Share 126 Tweet 79
  • Apostle Eunor Guti Declines Wicknell Chivayo’s Lavish Gift

    274 shares
    Share 110 Tweet 69
  • Fatal Dog Attack Exposes Mike Mupinga’s Troubling Past

    274 shares
    Share 110 Tweet 69
  • Loophole or Legal Gymnastics? Zimbabwean Schools Find Ways Around Fee Payment Rule

    248 shares
    Share 99 Tweet 62
  • New ‘ lobola’ Fees for Foreigners Seeking Medical Care in Gauteng

    240 shares
    Share 96 Tweet 60
  • The Despicable Scam at Zimbabwe’s Hospitals; Its Business Nothing Personal.

    240 shares
    Share 96 Tweet 60
  • Philanthropy or Publicity Stunt? Wicknell Chivayo’s Lavish Gift to Jah Prayzah’s Team

    212 shares
    Share 85 Tweet 53
  • Hospital Investigates Disappearance of Infant’s Body

    205 shares
    Share 82 Tweet 51

Most Read Stories

  • “Zimbabwe Is Discrediting SADC”

    ZANU PF Accused Of Bribing SADC Elders To Retain From Losing Power

    5239 shares
    Share 2096 Tweet 1310
  • Madzibaba gets Toyota Aqua after explaining new currency ZiG to church

    4533 shares
    Share 1813 Tweet 1133
  • Breaking News: Zimbabwe launches New Currency (Zig)

    4279 shares
    Share 1712 Tweet 1070
  • Guide : How to access 2023 Zimsec Ordinary O Level results online

    3973 shares
    Share 1589 Tweet 993
  • Uganda Police Officer Shoots Wife Dead After Mocking Him Over Man-U Loss

    3893 shares
    Share 1557 Tweet 973
  • Floods hit Gweru

    3593 shares
    Share 1437 Tweet 898
  • Mashura pa Gokwe musi wa 12.02.24

    3544 shares
    Share 1418 Tweet 886
  • Secret message for ED after his inauguration

    3481 shares
    Share 1392 Tweet 870
  • Heatwave Warning:Expect Extremely hot temp ranging from 36° to 41° until 12 March

    3394 shares
    Share 1358 Tweet 849
  • Here is the reckless Kombi Driver!!!!!!!!!!! See pics here

    3218 shares
    Share 1287 Tweet 805

  • About Us
  • Contact Us
  • FAQ
  • Privacy Policy
  • Terms of Service
  • Home

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News that Matters
    • News
    • Health and Diseases
    • Technology
    • Religion
    • Horror and Disaster
    • Elections 2023
  • Crime and Courts
  • Celebrity
  • Sports
  • Mjolo
  • Breaking News