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 accounts, industry type and public officer information. Only changes to the above-mentioned data need to be communicated to ZIMRA through the prescribed form REV 2.
If there is a change of public officer, a letter of appointment must accompany the prescribed form. The appointed public officer must be ordinarily resident in Zimbabwe and be a signatory to the business bank accounts.
The form REV 2 obtainable from the ZIMRA website must be completed and emailed to firstname.lastname@example.org with subject REV 2 Update Name Business Partner Number and Region.
There you have it. A splendid opportunity to capitalize on the ongoing master data update programme and get that permanent file information updated. Yours truly is continually surprised to observe that taxpayers in the transport or mining sectors for example are classified as retailers or wholesalers in the ZIMRA database.