Zimbabwean Government Initiatives for Widening Revenue Base: A Comparison of the Existing and Proposed Income Tax Act

Eukeria Mashiri, Lilian Nyamwanza and Charity Mhaka

International Journal of Financial Economics, 2014, vol. 2, issue 4, 208-214

Abstract: The existing legislation is based on geographical boundaries within or outside Zimbabwe (source based). The proposed Income Tax Act Chapter23:13 intends to widen the tax base by adopting the residence based tax system. This paper highlights the changes proposed in the new Income Tax Act, such as the inclusion of items of a capital nature into gross income, shrinking of the allowable deductions and anti-avoidance measures. In analysing the differences between the two, the implications, challenges and recommendations were also discussed. Students, employees, tax consultants and organisations will benefit from this discussion. The study was mainly a desk research of a thorough analysis to polarise the differences of the two Acts in light of the government objective to maximise revenue (wealth creation).

Keywords: Income Tax Act; Proposed Income Tax Act; Challenges; Implications (search for similar items in EconPapers)
Date: 2014
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