Zimra calls for Income Tax returns

The Zimbabwe Revenue Authority (Zimra) says the window is still open for the submission of Income Tax Returns, critical for the issuance of tax clearance certificates.

Zimra had earlier indicated that the deadline for the submission of the Income Tax Returns was April 30.

But in a notice yesterday, the tax authority urged those who had not submitted them to do so or risk heavy penalties.

“Zimra wishes to remind its valued clients that all taxpayers, except those on employment income, are on self–assessment, meaning that they were required to submit Income Tax Returns for the year 2017. Such returns, which should be accompanied by the relevant financial statements, were due on or before the deadline of April 30,” Zimra said in a notice.

“Individuals and person who disposed of specified assets and marketable securities in 2017 and did not submit capital gains tax returns were also required by April 30, 2018. Persons in receipt of income from employment in 2017, which had been subjected to Pay As You Earn or Employees’ Tax and were employed by the same employer throughout the year, were not required to furnish Income Tax Returns. However, persons who received additional income from other sources, like pension or rental income, besides employment income, were supposed to submit Income Tax Returns.”

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