Question: a) (i) Explain what is meant by the Final Deduction System (2 marks) (ii) Differentiate between the Final Deduction System and PAYE (4 marks) (iii)

a) (i) Explain what is meant by the Final Deduction System (2 marks)
(ii) Differentiate between the Final Deduction System and PAYE (4 marks)
(iii) Give examples of employees who are not affected by the FDS System (4 marks)

(b) The definition of gross income brings into the tax net amounts received from a source within Zimbabwe. You are required to state in one sentence the rules for determining the source of each of the following specific types of income.

1. Annuities
2. Royalties
3. Dividends
4. Interest
5. Directors Fees
6. Rent from immovable property
Rent from movable property
Income from services rendered
Income from business operations
Disposal of shares

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a i The Final Deduction System FDS is a tax system where an employer is required to deduct and remit ... View full answer

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