Latest News & Notices

19 May 2022
12 May 2022

Drawback of duty

(Taxman's Corner)

A duty drawback is a refund of Customs duties, taxes and fees paid on imported items that are subsequently exported....

05 May 2022
28 April 2022
21 April 2022

Public Officers

(Taxman's Corner)

Appointment of Public Officers Section 61 of the Income Tax Act [Chapter 23:06] stipulates that every company which...

14 April 2022
08 April 2022
07 April 2022

Question Of The Day

Question

What happens when one stops trading?

Answer

There is need to notify ZIMRA so that de - registration procedures are duly completed This includes payment of all taxes due and submission of all tax returns. ZIMRA may also undertake a deregistration audit. If the business was fiscalised, ZIMRA will need to deregister the fiscal machines

The company is only deregistered from the ZIMRA system after confirmation from the Registrar of companies that the company has been struck off the Companies register.

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