- 41. An overview of Fiscalisation
- (Taxman's Corner)
- ... Printers Works when connected to a computer system of a taxpayer Where there is high volume of sales transactions, for example supermarkets till points Where the buyers are final consumers ...
- Created on 01 September 2022
- 42. ADVANCE TAX RULINGS (ATRs)
- (Taxman's Corner)
- ... General can also issue a ruling to clarify challenges in interpretation of tax laws. Types of Advance Tax Ruling Binding General Ruling –This is an advance tax ruling that affects all taxpayers ...
- Created on 22 July 2022
- 43. Tax credits for corporates
- (Taxman's Corner)
- 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 ...
- Created on 30 June 2022
- 44. Authentication of a tax clearance
- (Taxman's Corner)
- Withholding tax on tenders is deducted from taxpayers who fail to furnish the paying officer with valid Tax Clearance Certificates in terms of Section 80 of the Income Tax Act (Chapter 23:06). What is ...
- Created on 02 June 2022
- 45. Obligation to furnish returns and information
- (Taxman's Corner)
- ... notes, debit notes, computer records, bills of entry, consignment notes, and all other books of account relating to any trade. Taxpayers are required to observe the following: All business records ...
- Created on 19 May 2022
- 46. Public Officers
- (Taxman's Corner)
- ... the company in terms of the tax law. Every Public Officer shall be answerable for the doing of all such acts, matters or things as are required to be done by a taxpayer under the Income tax Act. In case ...
- Created on 21 April 2022
- 47. Withholding tax on tenders
- (Taxman's Corner)
- ... is deducted from all persons who fail to furnish the paying officer with a Tax Clearance Certificate and the paying officer must furnish the payee with a certificate showing the amount so withheld. The ...
- Created on 15 February 2022
- 48. Master Data Update and Tax Clearance Issuance
- (Taxman's Corner)
- What is Business Partner Master Data? A business partner master data stores information related to the taxpayer such as name, physical address, identification number, bank account details, industry classification, ...
- Created on 27 January 2022
- 49. Prohibited Deductions –Section 16 of the Income Tax Chapter 23:06
- (Taxman's Corner)
- ... Section 16 of the Income Tax Chapter 23:06. SECTION EXPLANATION Sect 16 (1) (a) The cost incurred by any taxpayer in personal maintenance, his family or establishment. ...
- Created on 17 January 2022
- 50. Youth Employment Tax Incentive
- (Taxman's Corner)
- Youth Employment Tax Incentive Section 13A of the Finance Act (Chapter 23:04) provides for a Youth Employment Incentive (YEIT) to qualifying taxpayer who employs youths in their companies who ...
- Created on 30 December 2021