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BEHOLD, THE TAXMAN COMETH

Taxation
The Zimbabwe Revenue Authority (ZIMRA) is on a mission to apprehend non compliant  landlords for informal traders presumptive tax. Informal traders were on a tax holiday for some time now and one would be forgiven to assume that they are exempt from any form of taxation. Non compliance by informal traders who rent business premises is largely due to ignorance…
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THIRD QPD FOR YEAR 2021

Taxation
The third installment of provisional income tax (QPD) for the year is due on Saturday 25 September 2021. This installment (payable in the currency of trade) is calculated at thirty percent of the projected annual tax on income from trade and investment. Projected annual taxable income must be based on year to date figures rather than results for the respective…
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UPDATE OF PERMANENT FILE DATA

Accounting, General, Taxation
The Zimbabwe Revenue Authority (ZIMRA) has through Public Notice Number 72 of 2021 advised all operating business taxpayers to update their permanent file information (master data) in terms of the requirements of both the Income Tax Act and Value Added Tax Act. Permanent file information includes but is not limited to the taxpayer’s physical address, email address, telephone numbers, bank…
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REVIEW OF NSSA CONTRIBUTIONS

Payroll
The National Social Security Authority (NSSA) has through Public Notice advised stakeholders and employers of the revision of the current insurable earnings.  The authority cited statutory instrument 169 of 2021 namely National Social Security Authority (Pensions and Other benefit schemes) (Rates of Benefits) Amendment Notice 2021 (No 28) as the major reason for review. Section 8 of the statutory instrument…
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