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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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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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AUTOMATIC ISSUANCE OF TAX CLEARANCES

Taxation
Lately, compliant taxpayers have been struggling to access their 2021 tax clearance certificate (ITF263) owing to system upgrade challenges and congestion on the Zimbabwe Revenue Authority e-services platform. The authority has now addressed the issue in a big way as outlined in Public Notice Number 15 of 2021. Gone are the days when clients have to struggle to login to…
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