Tax Academy

Join us for the 2022 Tax Week...(3-7 October, 2022)

Join us for the 2022 Tax Week
3-6 October 2022
Rainbow Towers Hotel (Harare)

https://conta.cc/3qyC4GF

Join us for the 2022 Tax Week...(3-7 October, 2022) Join us for the 2022 Tax Week ‌ ‌ ‌ ‌ Download Document Download Booking Form Visit our website ‌ ‌ ‌

Tax credits for corporates

A tax credit is a type of tax incentive that reduces the tax liability of qualifying taxpayers as it is deducted from the income tax that would have been charged to the taxpayer. There are two tax credits which can be claimed by corporates namely the Youth Employment Credit for a qualifying taxpayer who employs an additional employee aged thirty (30) years or less during the year of assessment and the tax Credit for employment of physically disabled persons for a qualifying taxpayer who employs a physically disabled person. For the purposes of these credits:

“Employee” excludes a trainee, intern, apprentice and a managerial employee. Managerial employee includes a supervisor.

“Qualifying taxpayer” means a company or trust or individual taxpayer engaged in trade or investment who qualifies for a credit in terms of Section 13A of the Finance Act [Chapter 23:04].
1. Tax credit for employment of the youth (Youth Employment Tax Incentive).
2.
Finance Act No.3 of 2019 introduced the Youth Employment Tax Incentive (YETI). This incentive is aimed at stimulating employment of young people in Zimbabwe. The credit to be deducted from the income tax payable by a qualifying taxpayer is ZWL$1500 per month for each additional employee. However, the aggregate amount to be granted as a credit for all additional employees shall not exceed ZWL$180,000.00 per year.

What are the conditions to be fulfilled for the Youth Employment Credit?
• The qualifying taxpayer claiming the credit should be a registered taxpayer and should be compliant for the preceding year of assessment. All returns and taxes due should have been paid and if on payment plan client must be adhering to the same.
•
• The tax credit will only be claimed after the additional employee has served for a consecutive 12 months and should be earning at least ZWL$2,000.00 per month. The tax credit will not apply to companies or trusts or individual taxpayers whose annual turnover is equal to or exceeds an equivalent of US$1 million.
•
Please note that where the taxpayer has an assessed loss during the year of assessment, the credit shall be added to the assessed loss and the amount is carried forward to the next year of assessment. With effect from the 1st of January 2022, any excess credit incurred by a company with a payable position will be carried forward. The Commissioner shall not refund any excess credit if the credit exceeds the tax payable during the year of assessment.

3. TAX CREDIT FOR EMPLOYMENT OF PHYSICALLY DISABLED PERSONS
The tax credit for employment of physically disabled persons was introduced with effect from the 1st of January 2022, to encourage employers to employ such physically challenged persons. A “Physically challenged person” means an individual having a medically ascertainable physical condition or impairment that makes it difficult for him or her to do things that other individuals without the same physical condition or impairment can easily do. A tax credit of US$50 (or ZWL equivalent at prevailing rate) shall be granted per month for each additional physically challenged employee up to a maximum of US$2,250 (or ZWL equivalent at prevailing rate) per year of assessment.

What are the conditions for the employment of physically disabled persons?
• The taxpayer shall be registered for tax purposes and tax compliant for the preceding year of assessment, provide medical reports from Government Hospitals proving disability of employee, comply with National Social Security Authority (NSSA) regulations;
•
• The credit will only be claimed after the employee has served the particular organisation for a period of 12 consecutive months.
• The Commissioner shall not refund any excess credit if the credit exceeds the tax payable during the year of assessment. Excess credit shall be carried forward to the next year of assessment.
• Where the taxpayer has an assessed loss during the year of assessment, the credit shall be added to the assessed loss and the amount is carried forward to the next year of assessment.

Please note that the taxpayer will allow the credit when computing QPDs and on the Self-Assessment returns and shall not be required to apply for approval. Employers can only claim the credit in the year the employees are engaged if, the employees are engaged on 1st of January. For any other period, other than 1st of January, the credit is claimable only in the following year of assessment.

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/2215-tax-credits-for-corporates

Certified Tax Accountants

Certified Tax Accountants

Institute of Certified Tax Accountants

Institute of Certified Tax Accountants

Institute of Certified Tax Accountants

Institute of Certified Tax Accountants

Institute of Certified Tax Accountants

Institute of Certified Tax Accountants

Certified Tax Accountants

Certified Tax Accountants

Are you a qualified CA, ACCA, CIMA, CIS, ICPAZ, SAAA, IAC member, or a holder of a Master Degree in Taxation or Accounting or a ZIMRA employee or ex-Zimra employee with over 10 years work experience? if so, here is a career opportunity!

In as few as 3 months, we offer you an opportunity to attain a Post-Graduate Diploma in Applied Taxation, status of a Certified Tax Accountants (CTA), Membership of the Institute (AICTA/ FICTA) and Registration with the Public Accountants & Auditors Board (PAAB) - Zimbabwe as Registered Tax Accountant [RTAcc(Z)].

***August 2021 Class enrollment in progress!
***Mode of delivery (% Online)
***US$350.00 (payable either in full or over the study period)

For more details and enrollment please visit our website at
http://icta.org.zw/

OR Whatsapp to https://lnkd.in/gMJNSKr

100% Online Tax Certification Courses
(Flexible, Online, Part-time and Convenient)

Tax is a fascinating and ever changing subject and it's important to keep up wit new aspects of tax law. Our short courses offer professional development in taxation.

** US$120.00 per course
** Register by 30 July 2021 and get 10% discount (US$108.00 per course).

Visit https://lnkd.in/ggty6BM or https://www.icta.org.zw for more details and enrollment.

OR Whatsapp to https://lnkd.in/gMJNSKr

Looking for a well respected career that can offer the flexibility to work in the profession or industry? Then studying tax might be the way forward.

***Enrollment in progress for the September and December 2021 Exams.
***100% Online (flexible study options)
***Flexible payment options

For more details and enrollment please visit our website at
http://icta.org.zw/

OR Whatsapp to https://lnkd.in/gMJNSKr

Are you a qualified CA, ACCA, CIMA, CIS, ICPAZ, SAAA, IAC member, or a holder of a Master Degree in Taxation or Accounting or a ZIMRA employee or ex-Zimra employee with over 10 years work experience? if so, here is a career opportunity!

✅ June 2021 Class enrollment in progress!

✅ 💯% Online

✅ US$350.00 (Flexible payment options)

For more details and enrollment please visit our website at http://icta.org.zw/

OR Whatsapp to https://lnkd.in/gMJNSKr

EXPLORING VAST OPPORTUNITIES IN AFRICA FREE TRADE TRADE AREA | LinkedIn

EXPLORING VAST OPPORTUNITIES IN AFRICA FREE TRADE TRADE AREA | LinkedIn The webinar is designed to market BDO as the facilitator for companies to pe*****te the vast African market which is made up of 55 countries. That makes it the largest Free Trade Area in the world. The African market has approximately 1.2 billion inhabitants and a GDP of approximately 3.4 trillion U...

A career in tax has an enormous amount to offer individuals, including variety, intellectual stimulation and plenty of responsibility. If you enjoy working with people, the challenge of problem solving and an ever-changing, dynamic working environment then a career in tax is for you.

For more details and enrollment please visit our website at http://icta.org.zw/

Careers in tax can provide the possibilities of international travel, rewarding work and a structured career path where the sky is the limit in terms of promotions. Start your journey in tax by taking a look at our programmes.

For more details and enrollment please visit our website at http://icta.org.zw/

Certificate in International Taxation (CIT1001)

Certificate in International Taxation (CIT1001) Training Qualifications Certification Board

Certificate in International Taxation (CIT1001)

Certificate in International Taxation (CIT1001) Training Qualifications Certification Board

Certificate in Capital Gains Taxes

Certificate in Capital Gains Taxes Training Qualifications Certification Board

Certificate in Corporate Taxes

Certificate in Corporate Taxes Training Qualifications Certification Board

Certificate in Customs & Excise Taxes

Certificate in Customs & Excise Taxes Training Qualifications Certification Board

Certificate in Employment & Payroll Taxes

Certificate in Employment & Payroll Taxes Training Qualifications Certification Board

Certificate in Transfer Pricing

Certificate in Transfer Pricing Training Qualifications Certification Board

Certificate in Trusts and Estate Planning

Certificate in Trusts and Estate Planning Training Qualifications Certification Board

Certificate in Value Added Tax

Certificate in Value Added Tax Training Qualifications Certification Board

CTA Enrollment in Progress!

CTA Enrollment in Progress!

...Register for the March & June 2021 exams! (100% Online)

A career in tax as a Certified Tax Accountants (CTA) creates a vast of opportunities. The opportunity for challenging and diverse work. The opportunity to see the world. The opportunity to work with cutting edge clients on the most interesting commercial transactions.

For more details visit our website at; http://icta.org.zw/
For online registration follow this link; http://icta.org.zw/Join-Us!

CTA Enrollment in progress!
...Register for the March & June exams! (100% Online)

The CTA qualification is the leading tax advisory qualification in Zimbabwe for tax professionals.

For more details visit our website at; http://icta.org.zw/
For online registration follow this link; http://icta.org.zw/Join-Us!

50% Discount for all registrations until 31 December 2020
https://www.tqcertificationboard.com

Registration is still open for our Certified Tax Accountants (CTA) and Tax Technician qualifications.

Visit http://icta.org.zw/Join-Us! for online registration.

Registration is still open for our Certified Tax Accountants (CTA) and Tax Technician qualifications.

Visit http://icta.org.zw/Join-Us! for online registration.

40% OFF for all registrations done until 30 September 2020.
(US$ 72.00 per each course)

Enhance your reputation as a trusted tax professional and give yourself a competitive advantage in the market, by enrolling to 1 or more of our Self-learning Online Tax Certification Courses (100% Online).

To enroll visit any of the links below;
http://taxacademy.ac.zw/page.html
http://www.icta.org.zw/Short-Courses
https://taxacademy.tqcertificationboard.com/

Certificate in Transfer Pricing (2 months)

10% OFF for all registrations done until 30 September 2020.
(US$ 108.00 per each course)

Enhance your reputation as a trusted tax professional and give yourself a competitive advantage in the market, by enrolling to 1 or more of our Self-learning Online Tax Certification Courses (100% Online).

To enroll visit any of the links below;
http://taxacademy.ac.zw/page.html
http://www.icta.org.zw/Short-Courses
https://taxacademy.tqcertificationboard.com/

Tax Academy – Developing Tomorrow's Tax Experts!

50% OFF for all registrations done until 31 AUGUST 2020.

US$ 60.00/ ZWL Equivalency (Covering – Registration, Online Study Support, Online Exam & Online PDF Certificate)

Capital gains taxes affect more than just shareholders; there are repercussions across the entire economy. This course assesses the latest developments in capital gains tax and entrepreneurs relief. Successful completion leads to Customs & Excise Tax Specialist Designation with the Institute of Certified Tax Accountants (Zimbabwe), the leading tax professional body in Zimbabwe. Visit http://www.taxacademy.ac.zw for enrollment.

Tax Academy – Developing Tomorrow's Tax Experts! Developing competent Tax Professionals Browse Our Courses Our trainers We work with top industry experts and the best exam tutors to support you on your journey. Online Study Its flexibility allows the opportunity to learn while still working and growing professionally. Ongoing support We guide you....

50% OFF for all registrations done until 31 AUGUST 2020.

US$ 60.00/ ZWL Equivalency (Covering – Registration, Online Study Support, Online Exam & Online PDF Certificate)

The increase in international trade and commerce has caused companies and tax advisers to pay greater attention to the international customs legislation for their tax planning activities. The course provides an overview of the development of current international customs rules. Successful completion leads to Customs & Excise Tax Specialist Designation with the Institute of Certified Tax Accountants (Zimbabwe), the leading tax professional body in Zimbabwe. Visit http://www.taxacademy.ac.zw for enrollment.