EXTENSION OF DUE DATE FOR SUBMISSION OF 2020 TAX RETURNS

Taxation
Last month the Zimbabwe Revenue Authority declared that all registered taxpayers are required to submit their capital gains tax and income tax returns for the year ended 31 December 2020 by 30 April 2021. As a follow up, the taxation authority has announced an extension of the due date for submission of tax returns through Public Notice number 36 of…
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SUBMISSION OF 2020 TAX RETURNS

Taxation
The Zimbabwe Revenue Authority (ZIMRA) has announced the due date for submission of tax returns for the year ended 31 December 2020. In Public Notice Number 26 of 2021, ZIMRA announced that the following registered taxpayers are required to submit their tax returns by 30 April 2021:- Individuals, companies and trusts in receipt of income from trade and investments must submit…
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UNDERSTANDING PAY AS YOU EARN

Taxation
Pay as you earn (PAYE) is the tax paid by employees on remuneration for services rendered to an employer. An employee includes a working director for the purposes of charging PAYE. Remuneration as defined in the income tax legislation includes benefits such as use of company motor vehicle, interest free loans, free housing and furniture as well as allowances granted…
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FIRST QPD FOR YEAR 2021

Taxation
The first installment of provisional income tax  for this year is due on Thursday 25 March 2021. This installment (which is payable in the currency of trade) is calculated at ten percent of the projected annual tax  from trade and investment. The rest of the QPDs for the year are payable as set out below. First QPD - 10 percent…
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