2019 tax payment calender

All taxes due in the various Acts administered by the Zimbabwe Revenue Authority (ZIMRA) have specific due dates. The tax due must be paid on or before the due date besides the requirement to submit the tax returns.

The following Acts provide further details on calculation of tax:

 

TITLE                 CHAPTER NUMBER          Capital Gains Tax Act              23.01           Finance Act                         23.04

Income Tax Act                    23.06

Stamp Duties Act                23.09

Value Added Tax Act            23.12                 Paying taxes on time assists the business to meet the compliance requirements. In addition business resources are secured against penalties and interest for late or non-payment of tax. At year end it becomes easy to access the tax clearance certificate.

The due dates for paying taxes are as detailed below:

Tax head,      due date for returns and payment of tax thereof:

Income tax1

1. Employees’ tax (PAYE) By the 10th day of the following month after the end of the month during which the amount was withheld.

2 Income Tax on business Income: 1st QPD (10%) 2nd QPD (25%) 3rd QPD (30%) 4th QPD (35%) On or before 25th March 2019; On or before 25th June 2019; On or before 25thSeptember 2019; on or before 20thDecember 2019

3. 3. Presumptive Taxes – No later than twenty days after the end of each quarter but clients are permitted to pay the tax on a monthly basis.
4. Withholding Amounts under Contracts – on or before the 10th day of the following month after payment to payee under a contract.
5. Non-Executive Directors’ Fees – Within 10 days of  the date of payment or within such further time as the Commissioner may for good cause allow
6. Non-Resident Shareholders’ Tax -Within 30 days from the date of payment or crediting for the benefit of the beneficiary whichever occurs first
7. Resident Shareholders’ Tax -Within 10 days from the date of payment or crediting for the benefit of the beneficiary
8. Non-Resident Tax on Fees -Within 10 days from the date of payment or crediting for the benefit of the beneficiary
9. Non-Resident Tax on Remittances Within 10 days of the date of remittance or within such further time as the Commissioner may for good cause allow. 10. Resident Tax on Interest – Within 10 days from the date of payment or crediting for the benefit of the beneficiary          11. Non-Resident Tax on Royalties – Within 10 days from the date of payment or crediting for the benefit of the beneficiary
10. Automated Financial Transactions Tax -By the 10th day of the month following the month in which the transaction was effected
11. Demutualisation Levy – Within three (3) months after issuing the Zimbabwean member concerned with the free shares
12. Tobacco Levy – Within 48 hours from the date of sale of the auction and contract tobacco
13. Intermediate Money Transfer Tax – By the 10th day of the month following the month in which the transaction was effected
14. Property or Insurance Commission Tax – By the 10th day of the month following the month of payment
15. Informal Trader’s Presumptive Tax – Within 30 days from the date the amount is recovered
16. Mining Royalties – Not later than the 10thday of the month following the month in which the proceeds are received
17. Stamp Duty —By the 10th day of the following month
18. Bookmakers tax – By the last day of the month following the month in which the bookmaker collected those takings.

Capital Gains tax               

21. Capital Gains tax – Within 30 days from date assessment is issued Capital Gains Withholding Tax

No later than the third working day from the date when the payment was made

Value ADDED TAX

22. VAT- By the 25th day of the following month after the tax period. 23. VAT on Imported Services – Within 30 days of the earlier of time an invoice is issued by the supplier or recipient or the time any payment is made by the recipient in respect of that supply.
23. Value Added Withholding Tax – By the 15th day of the following month after withholding VAT.
24. Betting Tax – By the 10th day of the following month

Tax is paid through the banks or the convenience of clients. For taxpayers who may require to use mobile banking platforms they should visit their nearest ZIMRA Office.

Clients can remit their multi-currency taxes to ZIMRA through the following FCA Nostro (USD) accounts:

BANK   FCA NOSTRO

CBZ              1122387740107

ZB      4158-368023405-405

NMB    0000020881933

FBC    4870033840138

STAN CHART                      8740007099000    ECOBANK             181197600860401  NEDBANK             11990189627

BANCABC  10164886633017

STANBIC   9140000939535

 

Clients wanting to remit in hard currencies other than the USD can enquire with the above listed banks for the appropriate FCA Nostro accounts.

My Taxes, My Duties: Building my Zimbabwe!

 

 

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 : +263 782 729 862

Visit our website : www. zimra.co.zw

Follow us on Twitter : @Zimra_11

Like us on Facebook : www.facebook.com/ZIMRA.11

Send us an e-mail : [email protected]/[email protected]

Call us (Head Office) : 04 –758891/5; 790813; 790814; 781345; 751624; 752731

e-TIP: http://ecustoms.zimra.co.zw/etip/