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Public Notice 39 of 2022 Submission of Income Tax Returns ITF 12C For Tax Year Ended 31st December 2021

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36 views4 pages

Public Notice 39 of 2022 Submission of Income Tax Returns ITF 12C For Tax Year Ended 31st December 2021

Uploaded by

Keith
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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PUBLIC NOTICE:

SUBMISSION OF INCOME TAX RETURNS (ITF 12C)


FOR TAX YEAR ENDED 31st DECEMBER 2021

The Commissioner General of the Zimbabwe Revenue Authority (ZIMRA), hereby reminds all
taxpayers in Region 1 Small Clients Office, Region 2 and Region 3, that the Income Tax
Returns (ITF 12C), for the tax year ended 31st December 2021 are due on or before the 30th of
June 2022.

Income Tax returns due on 30 June 2022 are for the following categories:
1. Income from Trade and Investments
All Region 1 Small Clients Office, Region 2 and Region 3 taxpayers that received or accrued income
from trade and investments are on Self-Assessment in terms of section 37A of the Income Tax Act
[Chapter 23:06]. These taxpayers are reminded that they should submit Income Tax Returns (ITF
12C), accompanied by the relevant financial statements, on or before 30th of June 2022

Nil returns must be submitted where there was no income received or accrued.

2. Dormant Companies
Dormant companies that are registered for tax (that is to say, a company that has not carried on
any trade or business for the whole of the year of assessment in respect of which the
Commissioner gives this notice) should submit Nil returns on or before the 30th June 2022. The
commissioner hereby reminds all dormant companies which are not registered with ZIMRA to get
registered for tax purposes.

3. Taxpayers with approved Accounting Years


Taxpayers with approved accounting years other than 31 December should ensure that returns are
submitted on dates set by the Commissioner General in respect of their accounting periods.

4. Completion of Income Tax Returns

Generally, Income Tax Returns are completed in Local Currency [Zimbabwe Dollars (ZWL$)] but
the
Commissioner General can accept returns completed in Foreign Currency upon conditions detailed
below:

a) The taxpayer must submit an application in writing to the Commissioner detailing their
position and

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attach the Income Tax Returns where:

(i) Taxpayers’ gross income is in both local and foreign currency and 70% of the income is in
foreign currency; or
(ii) Taxpayers’ gross income is completely in Foreign Currency; or
(iii) Taxpayers’ gross income is in foreign currency and allowable deductions are in both local
and foreign currency.

b) In preparing the income tax returns, where income tax is payable in both foreign currency and
local
currency the tax should be apportioned based on the contribution of the respective currencies
to
total turnover method or any other method as the Commissioner may approve on request

5. SUBMISSION OF INCOME TAX RETURNS


Taxpayers are urged to take note of the following issues:
 Income tax returns should be completed in full and submitted on time, through the ZIMRA e-
services platform http://www.efiling.zimra.co.zw if completed in local currency. Late submission
of returns attracts penalties and interest.
 Additional schedules should be attached to show the tax computations where the tax payable is
in local and in foreign currency.
 Returns with declared foreign currency components must be submitted manually using e-mail
addresses provided in this notice.
 Tax Agents who submit returns for their clients in bulk are encouraged to approach their station
managers and agree on return lodgment plans well before the due date.

6. Other Issues:
a) The Income Tax Return ITF12C [Income Tax Self-Assessment Return] is downloadable from
the ZIMRA website www.zimra.co.zw

b) All taxpayers with outstanding returns, i.e. returns for previous tax periods, are reminded to
submit without further delay. Late submission of returns and payment of tax attracts prosecutions,
penalties and
Interest respectively. Outstanding returns may include:

(i) Employees’ Tax or Pay As You Earn (PAYE) Remittances - [P2 Remittance Advice Form]
(ii) Withholding Taxes/Royalties Returns – [REV5 Form]
(iii)Intermediate Money Transfer Tax (IMTT) - [REV5B Form]
(iv)Income Tax (ITF12B PAYMENTS)
(v) Value Added Tax (VAT)- [VAT 7]

c) Payments for all taxes should be remitted in full and on time through banks in the currency of
trade.
Refer to the following link on ZIMRA website for ZIMRA Bank Accounts
https://www.zimra.co.zw/profile/203

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Please Note: All income tax returns completed in local currency (ZWL$) should be submitted
online through e-services www.efiling.zimra.co.zw . Failed online returns submission and returns
completed in foreign currency should be scanned and emailed to the applicable/relevant email
address selected from the list below:

STATION TAX HEAD E-MAIL ADDRESS


[email protected]
LCO Income tax w
[email protected].
MCO Income tax zw
[email protected]
SCO Income tax w
[email protected]
Bulawayo All Tax Heads w
Victoria Falls All Tax Heads [email protected]
Hwange All Tax Heads [email protected]
Gwanda All Tax Heads [email protected]
Beitbridge All Tax Heads [email protected]
Masvingo All Tax Heads [email protected]
Mutare All Tax Heads [email protected]
Gweru All Tax Heads [email protected]
Chiredzi All Tax Heads [email protected]
Zvishavane All Tax Heads [email protected]
Chipinge All Tax Heads [email protected]
Rusape All Tax Heads [email protected]
Kwekwe All Tax Heads [email protected]
Kadoma All Tax Heads [email protected]
Chinhoyi All Tax Heads [email protected]
Kariba All Tax Heads [email protected]
Marondera All Tax Heads [email protected]
Bindura All Tax Heads [email protected]

My Taxes, My Duties: Building My Zimbabwe!!

Public Notice No. 39/2022, issued on 29/06/2022.

www.zimra.co.zw @Zimra_11 ZIMRA.ZW

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