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Role of evaluation committees

Evaluation committees of procuring entities are established in terms of section 18 of the Public Procurement and Disposal of Public Assets (PPDPA) Act. Subject to this section, for each procurement above the prescribed threshold, the accounting officer of a procuring entity shall appoint an evaluation committee in accordance with this …

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Treatment of taxable benefits for VAT

What constitutes a taxable advantage or benefit? The terms advantage or benefit are defined under Section 8(1) (f) of the Income Tax Act (Chapter 23:06) (Income Tax Act). These include a number things (corporeal or incorporeal) that can be offered by an employer (or on his behalf) to an employee …

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Oil prices regain little ground

LONDON. — Oil prices yesterday regained little ground lost in the previous session, weighed down by industry data suggesting US crude inventories fell less than expected. Brent crude futures gained 87 cents to $65,22 a barrel. Both benchmarks had shed more than 3 percent on Tuesday. West Texas Intermediate crude …

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China considers petrol-electric vehicles

BEIJING. — China is considering re-classifying petrol-electric hybrid vehicles so they get more favourable treatment than all-petrol or diesel counterparts under clean car rules, making it easier for automakers to meet environment quotas and offer more choice. Global hybrid leaders Toyota Motor Corp and Honda Motor Co Ltd would be …

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‘Consumers helped bankrupt Zesa’

Consumers played a part in bankrupting Zimbabwe’s power utility, Zesa Holdings by failing to pay their bills on time resulting in the institution now failing to provide the much needed electricity, plunging the whole country into darkness, a cabinet minister has said. Zesa is owed about ZWL$1,2 billion and in …

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Mash Holdings cites lucrative business areas

Michael Tome Business Reporter MASHONALAND Holdings managing director Gibson Mapfidza has cited tourism infrastructure, student accommodation and out of Central Business District (CBD) office space as lucrative areas for property investments going into the future. He revealed this while addressing senior local and regional real estate investors, developers and practitioners …

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Zim’s assets want long-term capital: Mangudya

Africa Moyo Zimbabwe is endowed with quality assets that investors who have a medium to long-term view can exploit in win-win situations, Reserve Bank of Zimbabwe (RBZ) Governor Dr John Mangudya has said. He said this in an interview with a privately-owned local magazine, “Who’s Who Zimbabwe”. Dr Mangudya is …

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Tourism set for US$20m boost

Enacy Mapakame Renowned global brands in the tourism industry have lined up an estimated US$20 million projects for Zimbabwe that should increase room capacity by over 1 000 in Harare, Victoria Falls and Bulawayo as investor appetite continues to grow. The model of development for the projects will include conversion …

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Banks colluded on Paynet: Cambria

Golden Sibanda Senior Business Reporter LONDON-listed Paynet Zimbabwe’s parent firm Cambria Africa Plc, has accused banks of working in collusion and as a “cartel” to take a unified position of refusing to pay for service fees in US dollars when in fact they had different contracts and should have performed …

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Mine Entra continues to thrive, 20 years on

THE mining, engineering and transport (Mine Entra) 2019 expo begins today in Bulawayo, with more than 200 exhibitors occupying 5 670 square metres of the available space. NewsDay (ND) business reporter Mthandazo Nyoni speaks to the Zimbabwe International Trade Fair company’s acting general manager, Nicholas Ndebele (NN), who reveals that …

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