Sanctum Business Consultancy

Sanctum Business Consultancy

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It is yet another sad day as we remember an international icon, Samanyanga, Nzou.

Share with us your favourate track from the legend, mine Chiri Nani. Rest in POWER Nzou!!

#sanctum#companyregistration#taxconsultancyzimbabwe

We are a team of financial professionals dedicated to providing professional, efficient, innovative and affordable comprehensive business services from Company Registration to Advisory Services.

Operating as usual

12/08/2021

Taxman's corner Imports by post

The Customs and Excise Act (Chapter 23.02) provides for importation of goods into Zimbabwe by post. Goods imported by post are liable to duty just like goods imported through other modes of transport. All imported goods including mail articles are assessed for protection of citizens, permits and approval requirements. Where goods are received from out of the country through mail handled by postal authorities and addressed to an individual, the recipient is the importer of those goods or parcel.

DECLARATION
The sender should affix a form or label to the parcel, which should indicate the description of goods contained in the parcel, quantity, origin and value. The form or label acts as a declaration and it is binding to the importer.

CUSTOMS CLEARANCE OF PARCELS
The parcels are availed to ZIMRA for examination, which entails physical confirmation of the contents against declaration affixed on the parcel and assessment of any duty due thereon.
If any goods contained in a parcel or package imported by post do not agree with the description, quantity, value or origin entered on the declaration, the goods are liable to seizure. The importer is also liable to a fine for undervaluation or false declaration as specified in the Customs & Excise Act.

AFTER EXAMINATION AND ASSESSMENT
Where no duty is due, the goods will be Passed-By-Customs (PBC) and the parcel handed over to ZIMPOST for delivery without any customs charges or duty.
Where duty is due; a Charged Parcel Docket (CPD) will be completed and affixed to the parcel.
Duty will be collected in the following scenarios
• Gifts exceeding US$75.00
• Commercial importations
• Private importations other than gifts.
The client will be informed of the duty due and is expected to pay through ZIMPOST, for the parcel to be released at the local post office.

GIFT REBATE FOR PARCELS IMPORTED BY POST
A rebate of duty of an amount equivalent to US$75.00 is granted in respect of a bona fide gift sent to a private individual or family residing in Zimbabwe for his or their personal use. This rebate covers only goods with a total value for duty purpose not exceeding US$75.00 and it is granted only once during a period of thirty days. The rebate does not apply to-
 Goods imported by a traveler in his baggage or upon his person.
 Alcoholic beverages.
 Goods which are not properly declared
 Goods for commercial purposes.
 Goods purchased by a Zimbabwean Resident online and delivered by post.

COVID 19 is real. Always remember to sanitise, wash your hands with water and soap. Stay safe.

My Taxes, My Duties: Building my Zimbabwe!!

Disclaimer
This article was compiled by the Zimbabwe Revenue Authority for information purposes only. ZIMRA shall not accept responsibility for loss or damage arising from use of material in this article and no liability will attach to the Zimbabwe Revenue Authority.

https://www.zimra.co.zw/news/22-taxmans-corner/2163-imports-by-post

Sanctum Business Consultancy updated their address. 02/08/2021

Sanctum Business Consultancy updated their address.

Sanctum Business Consultancy updated their address.

11/03/2021

To register your company, get in touch with us on:

Whatsapp: https://wa.me/message/IW3EKOBD4EIYH1
email: [email protected]
Call: +263 777 712 944

To register your company, get in touch with us on:

Whatsapp: https://wa.me/message/IW3EKOBD4EIYH1
email: [email protected]
Call: +263 777 712 944

Sanctum Business Consultancy updated their website address. 11/03/2021

Sanctum Business Consultancy updated their website address.

Sanctum Business Consultancy updated their website address.

09/03/2021

****ATTENTION DIASPORANS****

Get in touch with us to register a company in Zimbabwe via:

Email : [email protected] / [email protected]

Visit our offices: Office 3 Telone shared offices, Cnr Nelson Mandela & Julious Nyerere, Harare

Call or Whatsapp - +263 719 712 944 / +263 777 712 944

****ATTENTION DIASPORANS****

Get in touch with us to register a company in Zimbabwe via:

Email : [email protected] / [email protected]

Visit our offices: Office 3 Telone shared offices, Cnr Nelson Mandela & Julious Nyerere, Harare

Call or Whatsapp - +263 719 712 944 / +263 777 712 944

16/02/2021

Value Added Tax withholding Tax

Withholding of Value Added Tax (VAT) was introduced with effect from 1 January 2017 and some registered operators have since been appointed as VAT Withholding Tax agents. The VAT Withholding Tax agents’ role is to withhold a portion of the VAT when paying their suppliers who are registered for VAT.

What is Value Added Withholding Tax?
It is tax withheld by appointed agents when they pay their suppliers for the acquisition of taxable goods and services.

From whom should the tax be withheld?
VAT withholding agents should withhold tax from their suppliers who are registered for VAT. VAT withholding tax shall be withheld on payments of standard rated supplies. No VAT shall be withheld on payment for the supply of exempt and zero-rated supplies.

What is the rate of Value Added Withholding tax?
The rate of Value Added withholding tax shall be 1/3 of the output tax (VAT charged). In cases where payment of the supply is made in instalments, VAT shall be withheld on the output tax on each instalment.

What is the supplier supposed to do?
The supplier must:
• Receive a VAT withholding tax certificate from the agent.
• Claim the VAT withheld as a credit on submission of VAT returns.
• Attach a schedule of amounts withheld by various agents to the VAT return.
• Keep the tax certificates obtained from withholding agents for a period of six years.
NB: The VAT withholding tax deducted will reduce the amount of VAT payable during the tax period or increase the refundable amount.

Should a supplier supply less goods and or services because VAT has been withheld?
The amount withheld is VAT and it is remitted to ZIMRA by the agent. The supplier claims the tax as a credit on the VAT return which means the tax is an advance payment. Therefore, the supplier is not supposed to supply less goods or services following the withholding of the tax.

How is the VAT Withholding Tax paid?
Every value added withholding tax agent shall withhold and remit to ZIMRA from each amount to be paid to an operator, in the currency in which the goods and services concerned were purchased.

Click below for full article...
https://www.zimra.co.zw/news/22-taxmans-corner/2125-value-added-tax-withholding-tax

05/01/2021

***Public Notice to our valued Clients***

***Public Notice to our valued Clients***

Reasons Why You Need A Business Consultant | Sanctum Business Consultancy 12/11/2020

Reasons Why You Need A Business Consultant | Sanctum Business Consultancy

A Business Consultant Can Help You Plan for the Future
In the day-to-day operations of your company, are you losing sight of your long-term goals? A business consultant can help you step back and create strategies for expansion and growth years from now, ensuring you are focused on the future. Since business consultants have worked with larger companies, they know what it takes to get to the next level.

Reasons Why You Need A Business Consultant | Sanctum Business Consultancy Without a business consultant, you may be relying on trial and error to move forward. This can be a costly way to learn, especially if you make expensive mistakes. You may also be spending hours on research before making business decisions. This can be very time-consuming and can delay decision-maki...

sanctum.co.zw 09/10/2020

Sanctum Business Consultancy – Business Consultancy, Tax Clearance, Company Registration & Corporate Branding

Marriage is workshop.....where husband "works" and wife "shops". Happy Friday! Do check our website

http://sanctum.co.zw/

sanctum.co.zw

15/09/2020

KNOWLEDGE IS POWER

For any further inquiries, get in touch with us today on:

WhatsApp: +263719712944 / +263716380321
☎️: +263777712944

09/08/2020

Become a Business Owner within days.

Send us a WhatsApp message on https://wa.me/c/263719712944

Happy Women's Day😊

16/07/2020

Not to be missed!!!

06/07/2020

Zimbo Entrepreneurs, Your business journey of a thousand miles begins with a single step. We are here to help you formalize your trade for a minimal investment. Send us a whatsapp message on +263719712944 to get a deal suitable for your business needs

17/06/2020

Happy Wednesday 😊. Follow us on Twitter and like our page.

#companyregistrationzimbabwe #taxconsultancy #Advisory

12/06/2020

We go beyond your expectations!!!

08/06/2020

Sanctum Business Consultancy's cover photo

06/06/2020

Imagine waakunzi Daddy maaitei, vamwe vachitenga dzimba nemakambani🎵🎵😉...We here for you Youth. Let us help you formalise your Business idea. Talk to us today for an affordable business package suitable for you.

01/06/2020

Register your Company with us today in the comfort of your home within three working days after the confirmation of your Company Name.

Get in touch with us on: 0777712944 or 0719712944

#Companyregistration#ItsThatSimple#mysanctum#StayHome

25/05/2020

Happy Africa Day Fam!! Enjoy

19/02/2020

Everybody dreams about owning their own company but few people take steps towards executing that dream.

Our consultants are here to help you execute your dream of owning a registered company within 3 Days. Let us walk with you in 2020 and we will help make your dream come to life.

#sanctum #consultancy #companyregistration

17/02/2020

You can find us on the following Social Media Handles:

Facebook - Sanctum Business Consultancy
Twitter - @BusinessSanctum
LinkedIn - Sanctum Business Consultancy

#sanctum

14/02/2020

Wishing you a Happy Valentines Day and a year filled with love. #valentinesday #love #sanctum

12/02/2020

We seek to uphold the highest levels of confidentiality at all times when working with clients. Your information and business dealings are safe and secure with us. #sanctum

11/02/2020

YOUR STEPS IN THE BUSINESS WORLD ARE CRUCIAL FOR THE SUCCESS OF YOUR PRODUCT OR SERVICE. SUCCESSFUL ENTREPRENEURS ARE A PRODUCT OF THE CORRECT STEPS THEY TAKE.
DON'T MISS OUT IN THE UPCOMING ENTREPRENEURSHIP WORKSHOP TO BE HELD IN HARARE...Dates & Venue to be advised soon....

YOUR STEPS IN THE BUSINESS WORLD ARE CRUCIAL FOR THE SUCCESS OF YOUR PRODUCT OR SERVICE. SUCCESSFUL ENTREPRENEURS ARE A PRODUCT OF THE CORRECT STEPS THEY TAKE.
DON'T MISS OUT IN THE UPCOMING ENTREPRENEURSHIP WORKSHOP TO BE HELD IN HARARE...Dates & Venue to be advised soon.....

10/02/2020

Trying to get a company registered on your own can be very frustrating and time consuming. At Sanctum Business Consultancy we get companies registered in record time.

Our company registration process is so efficient, that we save you both time and money. #sanctum #consultancy #companyregistration

07/02/2020

Valentines Power Couple Goals

"Be a boss. Date a boss. Build an empire together."

#fridayquote

05/02/2020

Valentines is right around the corner. Help the special lady in your life to achieve her dreams in just 3 working days.

Simple, smooth and affordable Company Registration with Sanctum. #valz #bae #valentines

03/02/2020

Win big in 2020!
Secure your dream company name, by registering your company with us. #companyregistration #sanctum

29/01/2020

Benefits of Bookkeeping

Did you know? Just 50% of small businesses survive past the five year mark. However with a proper accounting system your business can survive.

We will help you to implement a proper accounting system and make smart financial decisions. You can count on #Sanctum. Get in touch with us on 0777712944.

27/01/2020

Private Business Corporation vs Private Limited Company
Which one is best for my business?

- PBC can be solely owned with a maximum of 20 directors.
- PLC only accommodates 2-50 directors.

- PBC cannot be used to apply for tenders.
- PLC can be used to apply for tenders

- PBC Companies cannot hold any shareholding in a PBC.
- PLC Both companies and individuals can be shareholders.

#sanctum #pbc #plc #consultancy

24/01/2020

Friday Inspiration:
Your time is limited so do not waste it living someone else's life - Steve Jobs

22/01/2020

Sanctum Wednesday Tip!
Youth Employment Corporate Income Tax Credit

- The Government has introduced a Fiscal Incentive to support employers who generate jobs for young job seekers. In the form of a tax credit of ZWL$500 per month, per employee. For corporates that employ additional employees in a year of assessment.

- The tax credit is limited to a maximum of ZWL$60 000 per year of assessment. You can take advantage of this cost sharing mechanism and reduce your hiring costs as a business.

20/01/2020

Did You Know?
A New Companies Act comes into effect on the 13th of February 2020, repealing the old Companies Act.

- All existing companies and private business corporations will have to be re-registered or be deemed to be defunct and liable for removal from the Register.

- The new law has provisions for heavier penalties and a lot of significant changes you NEED to know about.

For further information about the new companies act and the immediate compliance issues that your company needs to be
aware of. Get in touch with us via call or whatsapp on 0777712944. #sanctum #businessconsultancy

17/01/2020

We will leave you smiling from ear to ear. Our services are highly professional, swift and very affordable. #sanctum

Videos (show all)

Products

Company Registration, ZIMRA BP Registration, Tax Clearance, Accounting&Bookkeeping Services and Advisory.

Address


Office 19, Telone Shared Offices, Corner Nelson Mandela & Julius Nyerere
Harare
00263

Opening Hours

Monday 08:00 - 17:00
Tuesday 08:00 - 17:00
Wednesday 08:00 - 17:00
Thursday 08:00 - 17:00
Friday 08:00 - 17:00
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