News

Welcome to Zimbabwe, where policies change overnight but don't worry that's why we are here to summarise and deliver it in a more easily digestable way. Zimbabwe’s Capital Gains Tax system has come under renewed attention after Treasury directed the Zimbabwe Revenue Authority (ZIMRA) to align its tax collection practices with the intended policy following inconsistencies in the country’s tax legislation. For property owners, investors, companies and financial advisers, the issue is more than a technical legal matter. Capital Gains Tax can have a significant impact on the amount a seller ultimately receives from the disposal of an asset. For a tax system to work effectively, policy decisions have to be translated into legislation with enough precision that taxpayers, advisers and administrators can understand exactly what is required. So whats new?

A few months the country woke up to shocking news of proposed changes to the Zimbabwean constitution that would drastically change a lot of things, including taking away the power of people to vote for the President, extending term limits and a whole lot more. This bill proposes significant changes to how the country is governed especially how leaders are chosen, how long they stay in power, and how key institutions operate. Because these changes affect every citizen, it’s important to understand them in simple terms, this is not the time to stand by and do nothing and to be clear this should go to a referendum so that everyone has a say. So let’s dive in.