Taxable Income of a Holder of Special Mining Lease. A holder of a special mining lease, corporate income is taxed at a special rate of 15% instead of the general tax rate of 25%. However, holders of a Special Mining Lease are liable to Additional Profits Tax (APT). The tax is payable upon attaining a formula based level of profitability.
Seems the solar route is beginning to pick up momentum as power outages continue to visit the majority of Zimbabweans. Government has just approved a duty waiver on solar equipment. This is meant to promote the widespread importation and subsequent use of solar products. The other thrust shall be to also promote the production of solar …
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The GOZ encourages investment in renewable energy by waiving payment of duty on importation of solar equipment including batteries and panels. ... SOEs should have independent boards, but in some instances, such as the Zimbabwe Mining Development Corporation (ZMDC), the government allows the entities to function without boards. ...
From spring this year, the mining and construction industries will receive a boost for transitioning to zero-emission heavy-duty vehicles through a new tax credit from the federal government. The 30% refundable tax credit will apply to both hydrogen and electric heavy duty equipment used in those industries, as well as charging and refuelling ...
The new statutory instrument 203 of 2022 is in line with the changes in HS classification made by WCO taking into consideration the following: - public health and safety, food security and environment protection, technological issues, trade volumes and clarification of the HS texts. Highlights to these changes include new emerging products such ...
1.5 Each Prospecting License can peg up to a maximum of 10 claims at 1 Ha each. 1.6 An application for registration must be submitted to the Ministry of Mines and Mining Development offices. The application must have copies of the following attachments: (a) Prospecting license (s). (b) Prospecting Notice.
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3. In section 144T ("Rebate of Duty on Capital Equipment imported for use in specified industries") of the principal regulations are amended by the insertion of following subsection after subsection (6)— "(7) The following additional conditions apply to a person making an application for a rebate under this section)—
Mining companies are, thus, able to import specified equipment without seeking approval from Government Ministries, thereby reducing the cost of doing business. I, therefore, propose to repeal legislation relating to suspension of duty on specific mine development operations, in line with the Ease of Doing Business Concept, with effect …
A Special Excise Duty is charged on. The change of ownership of locally registered second-hand motor vehicles at specified rates. For example, a 2014 (2000cc motor vehicle) the …
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Tax incentives, which the government extended to the mining sector are meant to attract new investment while ensuring maximum utilisation of the country's mineral resources to achieve a US$12 billion mining industry by 2023, a Cabinet Minister has said. Gold production of 100 tonnes and earnings of US$4 billion per annum as well as …
There are various tax incentives given to miners involved in exploration and mining. For holders of special mining leases, taxation is at a flat rate of 15% as opposed to 24.72% for other miners. The holders may, however, be liable to additional profit tax calculated based on a formula.
A rebate of duty shall be granted to a holder of a mining location in respect of specified goods that, during a specified period, are imported by a holder for use solely …
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Mining. Autonomous solutions are frequently cited as being essential to smart mines of the future. Hexagon combines solutions for command and control, physical control and safety to help mines build a roadmap to full autonomy. Some Hexagon customers are already seeing immediate benefits from semi-autonomous solutions, such as vehicle ...
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The Zimbabwe Miners Federation (ZMF) is a government initiative to effect sustainable growth and meaningful transformation of the artisanal and small-scale mining industry. It is Zimbabwe largest mining body with over 1.5 million members, that contribute an annual average of 60% of the total gold deliveries to Fidelity Printers and Refiners ...
Minister Mutsvangwa. Zvamaida Murwira Senior Reporter. Government has approved a duty waiver on solar equipment and allowed mining firms to procure energy directly from the Southern African Power Pool. Further, selected hotels in resort areas will soon start paying electricity bills in foreign currency, as part of a raft of measures to …
S.I.6 of 2016 clearly defines capital equipment for specified industries as: Plant, equipment or machinery which is used exclusively for mining purposes on a …
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