On Wednesday, the 14th of April 2021, Eight2Five hub hosted its second in a series of training sessions on Tax with Zimbabwe Revenue Authority (ZIMRA) supported by Old Mutual Zimbabwe
Eight2Five Hub powered by Old Mutual empowers entrepreneurs with mentorship, business coaching and networking. Working closely with ZIMRA, the SCO Taxpayer Services Section facilitated the training whilst the Hub provided a platform for the regulator to reach out to enterprises and train them on compliance issues.
The sessions are open to the public, and anyone can participate by either logging into the Zoom session or watching through the Eight2Five and ZIMRA Facebook live stream. All entrepreneurs are encouraged to join the Eight2Five virtual community to get real-time updates on upcoming events.
As we approach the second Quarterly Payments Dates (QPDs) the week’s topic on Income Tax from Trade Investments becomes imperative as it applies to Startups and Entrepreneurs.
The training session was a wealth of knowledge, and it provided attendees with theoretical knowledge of various taxes and regulations, as well as, practical understanding of their implications to all organizations to make a profit.
The session covered income tax, defined as a tax chargeable on taxable income from trade and investment, the AIDS levy, the Youth Employment tax credit, the limit on the maximum credit and payment dates.
Furthermore, the facilitator from ZIMRA encouraged companies earning in foreign currency to do Voluntary disclosure, as failure would attract high penalties. He explained, “paying taxes on time and in full builds and dignifies our nation.”
“Eight2Five Innovation Hub platform looks forward to strengthening and empowering small businesses with the information they need to run successful and fully compliant enterprises” says Lillian Mbayiwa the Head of Group Marketing and Innovation for Old Mutual Zimbabwe.