A sale on credit is a deemed sale which attracts Capital Gains Tax on the gross capital amount.

The gross capital amount shall be the whole amount accruing as a result of the sale including instalments not yet due and payable in terms of the Agreement.

Once a return fails to commit, please print the failed return from the portal and send it to ZIMRA for assessment. Usually in this case further efforts to retry do not become successful.

It is correct for ZIMRA to bill late payment penalties as prescribed in the legislation and are based on a penalty loading model.. Clients are therefore urged to pay in time to avoid such penalties.

At the moment the following returns are available for submission through the e-services platform:

• P2-PAYE
• VAT 7-VAT
• ITF 12C (being the annual return for Income Tax Companies, and Income Tax Individual in Trade)
• CGT 1-Capital Gains Tax
• REV 5-Presumptive Taxes

The rest of the returns are still being developed

The e-services platform has not yet been configured to do amendments to returns. Therefore, all amended returns are still being submitted manually