24Sep 2023 by .NEXT ASSISTANT

EMBRACE VOLUNTARY DISCLOSURE

Accounting, Taxation
The Zimbabwe Revenue Authority (ZIMRA) is extending a golden opportunity to individuals and businesses to promote voluntary compliance and ensure the smooth functioning of business operations and social life. This unprecedented initiative allows taxpayers to review their financial affairs and rectify any discrepancies or omissions in their tax returns. By embracing this opportunity, taxpayers can avoid penalties and legal consequences…
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11Sep 2023 by .NEXT ASSISTANT

ZIMRA UNVEILS FISCALISATION DATA MANAGEMENT SYSTEM

Taxation, Technology
The Zimbabwe Revenue Authority (ZIMRA) is set to revolutionize its operations with the introduction of the groundbreaking Fiscalisation Data Management System (FDMS), as announced in Public Notices 40 and 50 of 2023.  This cutting-edge system aims to tackle the existing challenges in the fiscalisation process and enhance overall efficiency. The current system faces two primary challenges. Firstly, the non-standardized fiscal…
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19Aug 2023 by .NEXT ASSISTANT

THIRD QPD FOR YEAR 2023

Accounting, General, Taxation
The third quarter's provisional income tax (QPD) for the year is due for payment on or before 25 September 2023. This payment, payable in the currency of trade, is calculated at the rate of 30% of the estimated annual income tax on income from trade and investments. It is important to note that taxpayers can choose to calculate the taxable…
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