Zimra registers 21 643 new tax payers

Zimra registers 21 643 new tax payers

News, Tax
THE Zimbabwe Revenue Authority (Zimra) says a total of 21 643 enterprises were registered as new tax payers in the year 2020 as the Government’s efforts to widen revenue collection bear fruit.The tax authority managed to collect annual net revenue of ZW$181,96 billion against the target of ZW$171,9 billion last year, representing 5,85 percent above target.This result presented a real growth of 74,93 percent compared to 2019 collections after adjusting for inflation, said the tax authority.In a strategic performance summary report presented to stakeholders during the Zimra annual general meeting that was held virtually last Thursday, Acting Commissioner General, Mr Rameck Masaire, said widening the tax base was critical towards oiling national development.“The authority continued with its drive of broadening the tax base through new registrations. Active taxpayer education and…
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ZIMRA recovers $296m in anti-corruption blitz

ZIMRA recovers $296m in anti-corruption blitz

News
The Zimbabwe Revenue Authority (ZIMRA) recovered $296 million under its anticorruption crusades last year, ZIMRA Acting Commissioner General Rameck Masaire has said.Mr Masaire said $38 million was recovered under the whistleblower category. He also said $3,8 million was paid to whistle blowers for the 98 cases reported by 67 individuals.ZIMRA is implementing inward and outward measures, Mr Masaire said, to plug revenue leakages and these included integrity management, anti-corruption crusades, whistle blower facility, anti-tax evasion and anti-smuggling measures.He told the revenue collector’s fourth annual general meeting (AGM) that: “The Authority is aggressively using Money Laundering and Proceeds of Crime Act to seize and attach properties acquired through fraudulent means.”The initiatives come as the authority has increased its focus and implementation of the five year strategy to 2023 which among other…
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PUBLIC NOTICE: SUBMISSION OF INCOME TAX RETURNS (ITF 12C, ITF12C2, ITF1, CGT1) FOR TAX YEAR ENDED 31ST DECEMBER 2020

PUBLIC NOTICE: SUBMISSION OF INCOME TAX RETURNS (ITF 12C, ITF12C2, ITF1, CGT1) FOR TAX YEAR ENDED 31ST DECEMBER 2020

News, Tax
The Commissioner General of the Zimbabwe Revenue Authority (ZIMRA), hereby reminds taxpayers that they are required to submit Income Tax Returns and Capital Gains Tax Returns for the tax year ended 31st December 2020 as stated in Public Notice Number 26 of 2021 issued on 26 March 2021. Extension of due date for submission of Income Tax ReturnsConsidering the impact of the lockdown period from January to March 2021 and as a way of decongesting return submissions, the Commissioner hereby notifies all valued taxpayers of the change in due dates as stated below: a) 30th June 2021 for all taxpayers reporting to Small Clients Office (Harare), Region2 and Region 3.b) 31st July 2021 for all taxpayers reporting to Medium Clients Office (Harare).c) 31st August 2021 for all taxpayers reporting to…
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Companies tax, VAT top 2020 net revenue collections

Companies tax, VAT top 2020 net revenue collections

News, Tax
ZIMBABWE’s annual net revenue collections grew by 6,22 percent to ZWL$182,59 billion last year underpinned by fiscal and monetary measures that ushered in the much-needed stability and enhanced businesses viability. The major contributors to the tax revenues were companies with $34,132 billion, followed by VAT at $33,519 billion and individual income tax contributions at $28,438 billion. Excise duty brought in $25,824 billion and customs duty $14,573 billion. The Zimbabwe Revenue Authority (Zimra) had projected annual net revenue collections of ZWL$171,90 billion in 2020. In a revenue performance report for the quarter ended December 31, 2020, the tax collector also posted an 8,44 percent rise in net revenue for the fourth quarter recording ZWL$91,51 billion. “The authority collected net revenue of $182,59 billion against a target of ZWL$171,90 billion for the…
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