Tax Manage­ment Sys­tem

Chronicle (Zimbabwe) - - Business -

The Tax Manage­ment Sys­tem (TMS) is an elec­tronic in­voice manage­ment sys­tem which sends recorded sales trans­ac­tions from clients to the Zim­babwe Rev­enue Au­thor­ity (ZIMRA) server via the in­ter­net or trans­mis­sion disc. TMS was rolled out in Jan­uary 2016, in terms of Sec­tion 80D of the In­come Tax Act [Chap­ter 23:06].

To re­duce clients’ costs in record keep­ing Im­prove record keep­ing and data re­ten­tion for busi­ness op­er­a­tors

To im­prove and en­hance Fis­cal­i­sa­tion Sys­tem in Zim­babwe

To har­ness ICT plat­forms and in­crease rev­enue col­lec­tion through au­to­ma­tion

To cre­ate a Na­tional Sales Data­base from busi­nesses for eco­nomic plan­ning and pol­icy mak­ing de­ci­sions To in­crease tax com­pli­ance To record and mon­i­tor all sales trans­ac­tions for tax pur­poses. the ex­ist­ing

Any per­son or or­gan­i­sa­tion car­ry­ing on trade in Zim­babwe and reg­is­tered with (ZIMRA) with an ac­tive Busi­ness Part­ner Num­ber (BPN) is el­i­gi­ble to be reg­is­tered un­der the Tax Manage­ment Sys­tem regard­less of whether they are reg­is­tered for VAT or not, ex­cept for clients who are al­ready on fis­cal­i­sa­tion in terms of Statu­tory In­stru­ment 104 of 2010.

If not reg­is­tered with ZIMRA, en­sure that you have a Busi­ness Part­ner Num­ber by com­plet­ing REV1 Forms for ini­tial reg­is­tra­tion Com­plete an ap­pli­ca­tion form (Form IMS 01) Com­pile a list of all prod­ucts which you sell and at­tach it to the IMS 01 form and sub­mit it to any near­est ZIMRA Of­fice for reg­is­tra­tion in the Tax Manage­ment Sys­tem

ZIMRA will is­sue you with a fis­cal de­vice such as a fis­cal cash reg­is­ter or a taxi- me­ter for use.

Please Note: All de­vices are cur­rently be­ing pro­vided for free soon af­ter reg­is­tra­tion.

Tax Manage­ment Sys­tem records sales trans­ac­tions us­ing fis­cal de­vices such as fis­cal cash reg­is­ter (FCR) and taxi me­ters and then send the data to the ZIMRA server via three (3) meth­ods: By In­ter­net (GPRS, Wifi, don­gle and Eth­er­net) By trans­mis­sion disc at the Au­to­mated Rev­enue Ma­chine (ARM) or By trans­mis­sion disc at the ZIMRA of­fices (Tax Win­dow)

1. Fis­cal Cash Reg­is­ters (FCRs) This is used to gen­er­ate sales trans­ac­tions such as in­voices, re­ceipts, credit notes and debit notes 2. Trans­mis­sion Disks Trans­mis­sion disk is used for Declar­ing data cap­tured on FCR Col­lect­ing e-in­voice num­bers from ZIMRA server to fis­cal cash reg­is­ters.

3. Au­to­mated Rev­enue Ma­chines (ARMs)

Up­load­ing data from fis­cal de­vices via trans­mis­sion disc to IMS servers (data dec­la­ra­tion)

Authen­ti­cat­ing in­voices gen­er­ated by fis­cal cash reg­is­ters

Sub­mis­sion of tax re­turns such as Pay As You Earn (PAYE), Value Added Tax (VAT) re­turns and In­come Tax re­turns, among oth­ers.

This ar­ti­cle was com­piled by the Zim­babwe Rev­enue Au­thor­ity for in­for­ma­tion pur­poses only. ZIMRA shall not ac­cept re­spon­si­bil­ity for loss or dam­age aris­ing from use of ma­te­rial in this ar­ti­cle and no liability will at­tach to the Zim­babwe Rev­enue Au­thor­ity.

Toll Free Econet Line Toll Free Tele­cel Line WhatsApp 135 690 E-Mail: zim­raan­ti­cor­rup­tion@gmail.com Please note that the toll free hot­line is man­aged by an in­de­pen­dent ser­vice provider.

0808 190 0732 880 880

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