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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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FISCALISED RECORDING OF TRANSACTIONS

General
While not a complete surprise, the Zimbabwe Revenue Authority (ZIMRA) has now intensified its efforts on implementation of the fiscalization project. In Public Notice Number 11 of 2021, the taxman announced that issuance of tax clearances for vat registered taxpayers shall be conditional on full compliance with the fiscalisation regulations contained in Statutory Instrument 104 of 2010 (Fiscalised Recording of…
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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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