Non-compliance with customs regulations can result in significant monetary risks and other penalties. Shalom Fiscal Consultants (Pvt) Ltd provides professional knowledge and expertise with hands-on experience for minimising customs costs.
We offer opinions on how best a client can legally mitigate his customs obligation.
For clients under post entry audits or whose goods are placed under seizure, we prepare arguments applying case law and relevant administrative laws and regulations and help clients to navigate through complex administrative decision making process. A substantial reduction in penalty amounts can often be achieved through Zimra administration process.
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Non tax compliance makes one a slave of anyone who knows about his status as he lives in fear of being whistle blown. From January 2014, Zimra has given its clients tax clearance certificates valid for the whole year. It is easy to put the issue of compliance aside and wait to deal with it at year end when one will need to apply for next year`s tax clearance. Clients should note that late submission of returns alone attract a penalty of $30.00/day. This includes nil returns. Late remittances of tax attract both penalty and interest in addition to the principal amount. Submit your tax returns and pay the taxes on time to live with a clean conscience. It is advisable to engage the tax authorities for a payment plan where one is facing cash flow challenges.
The tax laws require business people to keep proper books of accounts for at least six years. Keeping of these records does not only help tax authorities to collect the correct tax due but it also helps the trader to see whether his business is growing and making profit.
Proper maintenance of books of accounts also assists the trader in internal auditing and investigations in cases of suspected theft of company assets and fraud. It is less expensive to engage a reliable tax consultant than to pay interests and penalties for non-compliance. The decision that one makes on how he chooses to handle his tax affairs has a cost to it. However, the costs of non-compliance are higher than the costs of compliance.
Shalom Fiscal Consultants (Pvt) Ltd is dedicated to provide a personalised service matching the unique requirements of our clients. We offer a complete range of trade and fiscal services. We are proud to provide reliable, accurate and efficient services to our clients We maintain high quality standards in order to increase operational and economic efficiencies to our clients. We consult with you not only to clear your shipment, but also to advise you on any questions or concerns you may have before you engage in purchasing goods from other countries.
We put our expertise to work to provide you with the service that you need. Maybe you're a courier company importing your clients' consignments; Maybe you bring wholesale or retail shipments into Zimbabwe every week of the year; Maybe you import fashion, furniture or food, books, CDs or DVDs,
kitchen equipment or motor components. Maybe you're importing a one-off treasure you found on your holiday in the Far East; Whatever your import, Shalom Fiscal consultants Pvt Ltd can make it easy for you.