Annual Returns

1.      Income Tax Form 16 Return

Every registered employer is required to submit returns of all persons employed by him detailing the salaries, wages, allowances, benefits and pension deductions for each person so employed and this is in terms of Section 39(1) of the Income Tax Act.

The due date for submission of ITF16 is within 30 days after the end of the year of assessment and can be submitted electronically. (Please note that ITF16 returns are different from P2 returns that are submitted monthly with PAYE payments)

2.      Income Tax Returns

All persons or representative taxpayers who have received or to whom income has accrued from a source within or deemed to be within Zimbabwe, are required to submit income tax returns for each tax year as follows:

1. Self Assessment Clients: Persons who have been specified in terms of Section 37A of the same Act as being on self assessment are required to furnish self assessment returns in duplicate by 30 April every year. This include clients who were registered or were required to have registered under Category “C” for Value Added Tax (VAT) in terms of the VAT Act (Chapter 23:12) as at 31^st December 2007 and thereafter or were registered under the Banking Act (Chapter 24:20) or under the Insurance Act (Chapter 24:07). The Self Assessment return form is ITF 12C and is available on our website.
2. Clients not yet on Self Assessment: All persons who have not been specified as being on Self Assessment are required to submit their income tax returns 30 days from the date of the Commissioner General’s public notice in terms of Section 37 of the Income Tax Act (Chapter 23:06). The income tax return for companies and trusts is ITF 12 and this return should be accompanied by financial statements.
3. Employment Income Cases: Persons in receipt of income which solely consists of remuneration which has been subjected to employees tax (PAYE) are not required to furnish income tax returns. Exceptions include those who left employment during the course of the year, received income from more than one source or changed employers during the course of the year. ITF1 – is the return for employment income to be completed by individuals on employment income. ITF1A – is a return by an individual of income from trade, investment or profession

Monthly Returns

1.      PAYE- P2 Returns

Every employer who pays or becomes liable to pay any amount by way of remuneration to any employee shall deduct that amount by way of employee’s tax any amount which shall be determined in accordance with the prescribed Pay As You Earn Tax Tables. The due date for remmitance of PAYE is the 10^th of the following month and such remittance should be accompanied by a Form P2.

2.      VAT7 Returns

All registered operators are required to submit VAT returns as per schedule below depending on their VAT category.

Category A

Category B

Category C

All registered operators in Category C are required to submit VAT returns on a monthly basis by the 15^th of the following month.

Extension of Time

The Commissioner may, under certain circumstances, extend the period within which the statutory returns must be submitted or the tax must be paid. The Commissioner may accept payment of a deposit equal to an estimated tax liability where the client is not able to prepare an accurate return on time.

Consequences of late or failure to submit returns

Where a client fails to submit a statutory return as prescribed above, the Commissioner may without further notice issue an estimated assessment and charge penalty or institute prosecution proceedings.