Voluntary compliance on submission of Income Tax and Capital Gains Tax Returns
All persons who receive income or gains, from a source within Zimbabwe are required to submit Income Tax Returns or Capital Gains Tax Returns.
ANY persons that have failed to submit the Income Tax Returns are encouraged to take advantage of the Voluntary Disclosure Program which ZIMRA is running with, up to December 2018and be compliant. No penalties shall be charged for late submission of returns under the Voluntary Disclosure Program but interest remains due and payable on the tax that was not paid on time.
Benefits of making Voluntary Disclosure under Voluntary Disclosure Program
◆ Penalties, civil penalties, fines and additional tax shall be waived in full
◆ Outstanding tax debts are paid on agreed payment terms
◆ Business is free from the burden of non-compliance
◆ Access to tax clearances certificates for compliant taxpayers
◆ Business managers and owners can focus on running their businesses thereby reducing costs of compliance.
Period covered by Voluntary disclosure
Applications for voluntary disclosure shall be made until 31 December 2018. Assurances to the Applicant The information for voluntarily disclosed shall not trigger an audit, investigation or prosecution.
Withdrawal of voluntary disclosure
The voluntary disclosure benefits shall be withdrawn where the client fails to honour payment arrangements agreed on with ZIMRA, without seeking for alternative payment arrangements.
Please Note: Income Tax Returns are submitted on line on http://efiling.zimra.co.zw For more information, please approach your nearest ZIMRA office.
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Disclaimer
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. To contact ZIMRA: WhatsApp line:
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