Maxwell & Company

22/03/2022

For Tax professionals, Charity Trustees, NGOs, and PVOs.
A very recent (January, 2022) judgement on the application of s15(2)(r)(iii) of the Income Tax Act, i.e allowable deduction on a donation to a charitable trust. Granted the case involved donation to a PVO, but the judge seems to me to have opened the scope for possible application to Charity Trusts registered by Deed (under the Ministry of Justice), which would be welcome. Zimra might have the decision overturned on Appeal, of course, or even act to have the section amended by parliament, either way there is definite need for clarity regarding exclusion of (and discrimination against) charity trusts registered by Deed in our tax statutes. Hopefully this judgement will be a great start to tax equity in as far as charity organisations operations in Zim go.

NDOU AJ: The respondent is an administrative authority tasked with the duty and obligation to collect taxes and other statutory dues under various legislative instruments. In particular, the respondent is mandated to collect income tax in terms of the Income Tax Act [Chapter 23:06] (“Act”).

02/11/2021

Wirecutter Deals explains the differences between a sale and a deal so you can feel empowered with every purchase.

27/10/2021

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25/10/2021

Section 2 of the Income. Tax. Act. (Chapter 23:06). Defines a “trust instrument” as “a deed, will, contract of settlement or other disposition, including a verbal declaration, by which a trust is created.

17/10/2021

Did you know that there is a more efficient, safer, and easier way to generate income from cryptocurrencies? In this article, learn how you can earn money with crypto using Binance Earn and cash out with Binance P2P.

16/10/2021

An interesting case on fraudulent transfers of property into a Trust pending divorce. Very interesting take by the US Court...

The Superior Court issued a non precedential decision on September 21 grappling with a question that has lingered since Pennsylvania adopted equitable...

16/10/2021

Should you have a will, or would it be better to have a living trust? Both options are covered in easy to understand detail by Lora Poland, Attorney in Estat...

15/10/2021

Only 59 Nobel prizes – or 6.2% of the total – have gone to women since their inception in 1901

14/10/2021

Great article on start up NGOs and Charity Organisations..

Understanding the basics of NGO Over the past few decades NGOs have gained significant popularity as the third pillar of development and have played a key

29/07/2021

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