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Indirect Taxation in Zimbabwe

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Course Description
Course Curriculum

(B.4) Indirect Taxation in Zimbabwe

Indirect tax is a tax that can be passed on to another individual or entity. Indirect tax is generally imposed on suppliers or manufacturers who pass it on to the final consumer. Excise duty, customs duty, and Value-Added Tax (VAT) are examples of Indirect taxes.

Objectives

This course seeks to provide an in depth study on the various provisions of indirect taxation laws and their impact on business decision-making.

Learning Aims
The syllabus aims to test the student’s ability to:

Understand the principles underlying the Indirect Taxation Statutes (with reference to Valued Added Tax (VAT) Act, Customs & Excise Act).

Compute the assessable value of transactions related to Valued Added Tax for levy and determination of duty liability.

Identify and analyse the procedural aspects under different applicable statutes related to indirect taxation.

1	History of Value Added Tax
2	Background & Introduction
3	Rates of VAT
4	Key Definitions - Interpretations (Section 2)
5	General Operational Aspects of VAT (Section 6)
6	Supplies
7	IMPORTATION & EXPORTATION OF GOODS
8	IMPORTED SERVICES (SECTION 13)
9	ACCOUNTING FOR VAT – SECTION 14
10	PERMISSIBLE AND PROHIBITED DEDUCTIONS
11	ADJUSTMENTS – SECTION 17
12	SALE OF A BUSINESS AS A GOING CONCERN – (SECTION 18)
13	PRE INCORPORATION EXPENSES (SECTION 19)
14	IRRECOVERABLE DEBTS (SECTION 22)
15	VAT REGISTRATION REQUIREMENTS
16	CANCELLATION OF REGISTRATION (SECTION 24)
17	MECHANICS OF VALUE ADDED TAX
18	DEFERMENT OF VAT
19	TAX PERIODS – SECTION 27
20	VAT ASSESSMENTS (SECTION 31) (3)
21	OBJECTIONS, APPEALS & REFUNDS
22	AGENTS AND AUCTIONEERS (SECTION 56)
23	GLOSSARY OF TERMS AND EXPLANATORY NOTES