Zimbabwean law obligates every trading business to pay different types of taxes on a periodic basis. Tax payments must be accompanied by an accurately filled tax return. The return contains the type of tax being paid for and the specific details to do with that payment. Returns are an obligation for all tax registered businesses regardless of whether you are trading, making a profit or a loss.
What is included in the service?
Our tax return preparation and submission service allows you to fulfill your legal obligations. We calculate the tax due (based on information you provide) and we prepare the following returns and submit these to ZIMRA on your behalf whenever they are due:
Income Tax Returns (QPDs)
Income tax is tax levied on business income. It is paid in quarterly installments known as quarterly payment dates or QPDs (March, June, September & December).
Annual Tax Returns
Every year a consolidated return is required for both PAYE and Income tax. ITF16 for PAYE is due by 30 Jan every year. ITF12c for Income tax is due by 30 April every year.
PAYE Tax Returns
Pay As You Earn (PAYE) is tax paid by employees. Companies withhold the tax amount on behalf of the employee and remits this to ZIMRA for employees earning above $350.
VAT Returns
VAT is tax levied against sales. VAT registered operators collect 15% on all VAT taxable transactions and remits this to ZIMRA based on their allotted schedule.
Requirements for tax return services
These are the requirements needed for each service.
Requirements for Income Tax Returns
- Business partner number
- Nature of business
- Contact person & contact details
- ZIMRA e-filling email address & password.
- Revenue turnover (sales/income)
- Revenue turnover (export)
- Other income
- Opening stock
- Purchases (cost of production)
- Closing stock
- Expenses (associated with production of income)
- Asset Values
- Tax prepayment
Requirements for PAYE Tax Returns
- Trade name
- Business partner number
- Physical address
- Email address
- Sales
- Purchases
- Operating expenses
Requirements for VAT Returns
- Name of registered operator
- Trade name of registered operator
- BP number
- VAT number
- Tax period
- Physical address
- E-mail address
- Contact person & contact details
- ZIMRA e-filling email & password
- Supply of goods and/or services at standard rate 15%
- Supply of goods and/or services at 0%
- Exempt supplies
- Imported services (apply standard rate 15%)