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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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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SUBMISSION OF 2022 INCOME TAX RETURNS

Accounting, Taxation
The Commissioner General of the Zimbabwe Revenue Authority (ZIMRA)  has given notice to all registered taxpayers that they are required to submit  their  income tax returns for the year of assessment ended 31 December 2022. Public Notice Number 15 of 2023 declared that the following registered taxpayers are required to submit their income tax retuns as follows; Individuals, companies and…
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THIRD QPD FOR YEAR 2022

Taxation
The third instalment of provisional income tax (QPD) for the year is due on Sunday 25 September 2022. The instalment (payable in the currency of trade) is calculated at the rate of thirty percent of the projected annual income tax from trade and investments. Projected annual taxable income must be calculated from year to date profit instead of  the respective…
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