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Timetric’s Zimbabwe fiscal regime report outlines governing bodies, governing laws, prospecting licenses, mining rights and obligations and key fiscal terms covering six commodities: coal, copper, gold, nickel, diamond and platinum.
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The mining industry in Zimbabwe is governed by the Ministry of Mines and Mineral Development and Chamber of Mines of Zimbabwe (COMZ). The Mines and Mineral Act of 1961 is the main act that consolidates and amends law related to the mines and minerals.
The report outlines Zimbabwe’s governing bodies, governing laws, prospecting licenses, mining rights and obligations and key fiscal terms which includes Royalty, Corporate Income Tax, Capital Gains Tax, Presumptive Tax, Withholding Tax, Fiscal Incentives, Customs and Excise Incentives, Loss Carry Forward and VAT.
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To gain an overview of Zimbabwe's mining fiscal regime.
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The Ministry of Mines and Mining Development was established to facilitate and regulate the sustainable mining, value addition and marketing of the country’s mineral resources for the social and economic well-being of the country.
The Chamber of Mines of Zimbabwe is a private sector voluntary organization established in 1939 by an Act of Parliament. Its main objective is to promote, encourage and protect the interests of the mining industry in Zimbabwe.
The Mines and Mineral Act came into jurisdiction on November 1, 1961. This act consolidates and amends laws relating to mining and minerals.
The Base Minerals Export Control Act came into legislation on May 30, 1949 to prohibit or regulate the export of base minerals from Zimbabwe. Base minerals include coal and all other minerals and mineral substances except precious metals, natural oil and gas.
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