Connect with us

Uncategorized

Zimbabwe picks foreign firm to collect taxes from e-commerce, crypto and content creators

Published

on

 

BY MEMORY MATARANYIKA

Advertisement

E-commerce, cryptocurrency transactions and content creators are among new businesses included into the tax bracket in Zimbabwe.

“The Republic of Zimbabwe entered into a public-private partnership agreement with Daedalus World Limited of Tortola, British Virgin Islands, in terms of which Daedalus World Limited will assist the Republic of Zimbabwe by providing a revenue collection service through taxing qualifying companies that provide digital advertising, content, cloud computing, e-commerce [and] gambling,” reads part of a general notice published by ICT minister Jenfan Muswere on January 19.

The notice says companies offering “betting, gaming and cryptocurrency services to persons and organisations within the territory of the Republic of Zimbabwe” will also now be subject to taxation, with the revenue set to be collected by Daedalus World.

Advertisement

Zimbabwe currently outlaws banks from cryptocurrency transactions.

The inclusion of cryptocurrencies into the list of companies to be taxed has raised expectations that Zimbabwe could now be moving towards regulation and taxation of digital currencies such as Bitcoin, joining South Africa that already taxes such transactions.

The new tax revenue collection agreement will target content and digital advertising companies such as YouTube, Google, Facebook and others in addition to e-commerce entities.

Advertisement

Zimbabwe’s increasingly informal economy has witnessed a boom in e-commerce activities, with trade between Zimbabwe and South Africa as well as China and Dubai – from where most e-commerce traded goods are being sourced – increasing.

According to BDO, the global accountancy firm, there will be separate legislation for a compliance framework covering submission of returns, payment of tax and the due date for such payments, among other compliance requirements” for the new e-commerce levies.

The new e-commerce regulations will also likely encompass satellite broadcasters, adds BDO in a note on Zimbabwe’s tax framework.

Advertisement

The government has been seeking ways to prop up revenue collections and is levying a US$50 fee on imports of smartphones for which import duty would not have been paid.

Telecom and tech industry players say the new measures are a set back for e-commerce and efforts to boost the internet penetration rate in the country.

In a separate notice published January 19, the Zimbabwe Revenue Authority directed that the “provision of data and airtime by employer to employee for use at home or outside work premises is a benefit which is taxable in the hands of the employee”. – News24

Advertisement

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Slider

Conservation amid crisis: How VFWT adapted to 2024 drought

Published

on

BY NOKUTHABA DLAMINI 

The Victoria Falls Wildlife Trust (VFWT) has released its 2024 Impact Report, detailing a year marked by unprecedented challenges due to severe drought conditions across Zimbabwe and much of Southern Africa. The report highlights the organization’s strategic adaptations to support local wildlife and communities during one of the most difficult drought years on record.

Advertisement

Unlike previous droughts where water scarcity was the primary concern, this year underscored a more complex reality. VFWT Chairperson Bruno De Leo emphasized that the lack of grazing for both wildlife and livestock emerged as an even greater threat. Animals had to venture farther for food, increasing the potential for human-wildlife conflict and competition for dwindling resources. De Leo noted, “The year 2024 underscored the importance of connectivity for wildlife and the need to maintain corridors that allow movement and relieve pressure on natural resources.”

In response to these challenges, VFWT implemented several proactive measures. Collaborating with the rural communities involved in its Herding 4 Hope project, VFWT facilitated early livestock sales to minimize losses and planned for dry-season grazing in more distant areas to conserve energy among livestock. The organization also focused on regenerating boreholes to ensure that villages without adequate water had access to crucial resources.

Notably, VFWT’s Wildlife Disease & Forensics Laboratory made significant strides, establishing itself as a key player in wildlife forensics. In 2024, the laboratory handled over 280 cases and engaged in crucial research on transboundary animal diseases affecting regional wildlife. The lab successfully validated targeted sequencing for species identification using new technologies, reinforcing its capabilities in addressing wildlife crime. Remarkably, the lab played an integral role in international ivory seizure investigations and developed a genetic panel for black rhinos, demonstrating a strong commitment to combatting poaching and ensuring species protection.

Advertisement

A particularly significant initiative was the launch of a tuberculosis surveillance project for lions within Hwange National Park. Following confirmed deaths from the disease, this project seeks to assess its prevalence among the lion population and understand transmission dynamics. With nine lions set to be sampled in late 2025, the data gathered will contribute to vital conservation knowledge.

The report emphasizes the importance of continued support from donors and stakeholders, enabling VFWT to maintain healthy animal populations and develop sustainable solutions for the future of biodiversity in the region. In a challenging year, the dedication and adaptability of the VFWT team stood out, reinforcing its commitment to conservation and community engagement.

Advertisement
Continue Reading

In the community

Woman connives with boyfriend to kill step mother

Published

on

BY STAFF REPORTER 

A chilling murder case has unfolded in Tsholotsho, where a 34-year-old woman, Linnar Muzimela, and her boyfriend, Nkosi, are being sought by police for allegedly killing Muzimela’s 58-year-old step mother, Jenifer Dube.

Advertisement

According to the police, the brutal murder occurred in Magotsha Line in May 2025. The suspects allegedly buried Dube’s body in a shallow grave in the garden, where it was later retrieved by police on Tuesday, this week.

Police are now appealing for information that may lead to the arrest of Muzimela and Nkosi. The motive behind the murder is still unclear, but the police are working tirelessly to piece together the events surrounding Dube’s tragic death.

 

Advertisement

Continue Reading

National

Zimbabwe road traffic fatalities rise to 20 amid recent accidents

Published

on

BY STAFF REPORTER

The Zimbabwe Republic Police (ZRP) has confirmed that the death toll from recent road traffic accidents has tragically escalated to at least 20 individuals in the past few days. This surge in fatalities has raised serious concerns regarding road safety across the nation.

Advertisement

In a statement released today, the ZRP detailed a fatal accident that occurred early this morning at the 246-kilometer peg along the Mutare-Masvingo Road, near Mutendi Complex. A Dragon bus, carrying 20 passengers and traveling from Beitbridge to Mutare, collided with a haulage truck while attempting to overtake. The bus driver swerved back into his lane upon noticing an oncoming vehicle, resulting in a devastating sideswipe that caused timber from the truck to pierce into the bus. Eight people, including the bus driver, died at the scene, and four others were injured in the crash. The injured were transferred to Masvingo General Hospital for treatment.

The ZRP emphasized the alarming trend of road accidents in their statement, noting

that these incidents were predominantly caused by reckless overtaking. “Most of the accidents recorded recently have been due to overtaking errors on the part of drivers,” police officials stated. “We urge all motorists to exercise extreme caution and adhere strictly to traffic regulations.”

Advertisement

This latest accident follows another tragic incident on August 28 involving a Toyota Fortuner GD6 at the 46-kilometer peg along the same road. The vehicle veered off the road and hit a concrete signpost, resulting in four immediate fatalities. This number subsequently rose to six as two more victims succumbed to their injuries after being admitted to Victoria Chitepo Provincial Hospital.

Additionally, on August 29, a separate accident on the Harare-Nyamapanda Road claimed the lives of seven family members when a kombi they were traveling in lost control during an overtaking maneuver, resulting in an overturn that killed five instantly and two more in the hospital.

Advertisement
Continue Reading

Trending

Copyright © 2022 VicFallsLive. All rights reserved, powered by Advantage