Zimbabwe Platinum Mines (Pvt) Ltd v Zimbabwe Revenue Authority & Anor

HH 845-22

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Case Details

Court

Harare High Court

Date

23 November 2022

Citation

HH 845-22

Neutral Citation

[2022] ZWHH 845

Outcome

unknown

Case Type

Application

Bench

Presiding

Mafusire J

Full Bench

Mafusire J

Areas of Law

Tax LawAdministrative Law

Keywords

DeclaraturForeign CurrencyTax DeductionsRBZ Retention SchemeMatching Principle

Key Issues

{"issue_text":"Whether the applicant is entitled to seek a declaratory order under s 14 of the High Court Act or whether it should have sought a review.","issue_type":"procedural","dispositive":"no","related_facts":"The applicant sought a declaratur; the respondent argued this was the wrong remedy."}
{"issue_text":"Whether the applicant's proposed method of apportioning tax deductions (based on invoice currency) or the respondent's method (based on the RBZ 60:40 ratio) is correct in law.","issue_type":"law","dispositive":"yes","related_facts":"The dispute over the interpretation of s 4A(10) of the Finance Act and s 15(2)(a) of the Income Tax Act."}

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Facts of the Case

Background

The applicant, a mining company with income and expenditure in both foreign and local currency, sought a declaratory order to validate its proposed method of tax apportionment. The applicant argued for deducting foreign currency expenditure from foreign currency revenue and local currency expenditure from local currency revenue based on invoice currency. The respondent rejected this, insisting on a 60:40 apportionment ratio for both income and expenditure, aligning with the RBZ retention scheme.

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