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    Belts N Hoses

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    Kundai. A Chebanga
    The memo seeks approval to reverse ZWL6,000 in IMT 2% tax charges on a ZWL300,000 transaction for BELTS N HOSES P/L. The reversal is recommended because the transaction qualifies for an exemption as an intra-corporate transfer of money. Supporting documentation is attached for the proposed reversal, which has been proposed by the relationship manager and supported by another relationship manager.

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    Belts N Hoses

    Uploaded by

    Kundai. A Chebanga
    18 views2 pages
    The memo seeks approval to reverse ZWL6,000 in IMT 2% tax charges on a ZWL300,000 transaction for BELTS N HOSES P/L. The reversal is recommended because the transaction qualifies for an exemption as an intra-corporate transfer of money. Supporting documentation is attached for the proposed reversal, which has been proposed by the relationship manager and supported by another relationship manager.

    Original Title

    BELTS N HOSES (1) (1)

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    The memo seeks approval to reverse ZWL6,000 in IMT 2% tax charges on a ZWL300,000 transaction for BELTS N HOSES P/L. The reversal is recommended because the transaction qualifies for an exemption as an intra-corporate transfer of money. Supporting documentation is attached for the proposed reversal, which has been proposed by the relationship manager and supported by another relationship manager.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    18 views2 pages

    Belts N Hoses

    Uploaded by

    Kundai. A Chebanga
    The memo seeks approval to reverse ZWL6,000 in IMT 2% tax charges on a ZWL300,000 transaction for BELTS N HOSES P/L. The reversal is recommended because the transaction qualifies for an exemption as an intra-corporate transfer of money. Supporting documentation is attached for the proposed reversal, which has been proposed by the relationship manager and supported by another relationship manager.

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    © All Rights Reserved
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    IMT 2% EXEMPTIONS REVERSAL MEMO

    To: Finance Department


    From: Business Banking
    Date: 16 November 2022
    Subject: 2% Tax Charge Reversal

    Authority Sought:
    Authority sought to reverse a total of ZWL6,000.00, 2% tax charge on transactions amounting to ZWL300,000.00.

    Account Name: BELTS N HOSES P/L


    Account Number 1007085296
    Date: 16 November 2022.
    Transaction References: Attached to Memo

    Exemptions Categories (tick appropriate)

    LIST OF EXEMPTIONS  TICK

    Transfer of money for the purchase or sale of marketable securities.

    Transfer of money for the purchase or redemption of money market instruments.

    Transfer of money on payment of remuneration.

    Transfer of money to or from Zimbabwe Revenue Authority for the payment or refund of any tax.

    Intra-corporate transfer of money. yes

    Transfer of money from (but not into) specified trust accounts.

    Transfer of money into and from nostro foreign currency accounts.

    Transfer of money by Government from Consolidated Revenue Fund.


    Transfer of money to any Pension Fund or the beneficiaries of such Pension Fund.

    System Duplications

    Other (specify)

    Recommendation

    We propose that the Finance Department reverses IMT Tax charges of ZWL6,000.00 on ZWL300,000.00 transactions.

    Supporting documentation attached Yes y

    Prepared by:

    _________________________________________Date: 16 November 2022

    Proposed by:

    _________________________________________Date: 16 November 2022


    Forward Tapfumanei
    Relationship Manager

    Supported by:

    _________________________________________Date: 16 November 2022


    Amanda Murisa
    Relationship Manager

    Approved / Deferred / Declined:


    Comments

    pp Ranganayi Jindu 20/12/2022


    _________________________________________Date________________________
    Geeny Makunde
    Financial Controller: Reporting

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