It’s vital to understand that both a normal Private Limited Company and a Shelf Company in Zimbabwe are legally registered Private Limited Companies at the Registry of Companies.
Overview
A Tax Clearance Certificate (ITF 263) is a certificate issued by the Commissioner General of the Zimbabwe Revenue Authority (Zimra) to a person/company liable to pay tax, provided that the taxpayer’s’ tax position is satisfactory.
Every operating organisation be it a profit making business or non-profit organisation should be registered with the tax authority. Upon registration they will acquire a unique number called a BP Number plus a tax clearance ITF263 which will be valid for a certain period time.
Benefits of a Tax Clearance Certificate
- No Presumptive Tax will be charged on importations
- One can easily bid for tenders with all organisations without hesitation because they will have met this requirement
- It is a pre-requisite when applying for lease, licenses etc
- One can carry out transactions without 10% of their gross amounts being withheld by a trading partner on of lease agreements when applying for premises.
We offer the following Tax compliance service
- Proactively resolving errors and omissions with ZIMRA
- VAT registration and completion of VAT returns
- Tax health checks on various tax heads
- Preparation of tax returns for organizations
- Receiving and responding to ZIMRA queries
- International tax services
- Expatriate tax services.
A Private Business Corporation has certain advantages and disadvantages. We are calling them advantages/disadvantages but they may not necessarily be advantages or disadvantages depending on your particular circumstances. So in that case they are more of features.
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