Zimbabwe Revenue Authority

Question

As a new trader what are my obligations to ZIMRA

Answer

You have to register with ZIMRA within30 days after starting the business.  Registration can be done online or manually upon application.  The following documents should be submitted for a newly formed company together with a completed REV 1 form or attached when registering online, in order to be registered:

 

1. Certificate of Incorporation;
2. CR14: contains details of directors
3. CR6: contains registered address of company
4. Stamped current Bank Statement;
5. Memorandum of Association (1st 3 pages plus the last page)
6. Articles of Association (1st 3 pages plus the last page)
7. Documents for at least 2 Directors
8. a)       Identity card;
9. b)      Proof of residence in form of utility bills, support with affidavit if bill is not in your name.

 

8. Documents for the Public officer
9. a)       Letter of appointment as public officer, stating the name, ID Number, Residential address and a statement to the effect that the public officer is a signatory to the company’s bank account;
10. b)      Identity card
11. c)       Stamped current bank statement;
12. d)      Proof of residence in form of utility bills, support with affidavit if not in your name.

 

For Individuals:

1. Stamped current bank statement;
2. Copy of ID;
3. Copy of proof of residence in the form of utility bills, supported with affidavit if not in the trader’s name.

 

 

After registration is confirmed the company is allocated a Business Partner Number (BPN) and advised of the tax heads registered for.

 

Every registered client is required to submit a tax return after the end of each tax year by 30 April of the following year. The tax year runs from 1 January to 31 December of each year.

 

Some business operators are required to pay Presumptive Taxes and this includes operators of omnibuses, taxi-cabs, driving schools, goods vehicles, hairdressing salons, informal traders, operators of restaurants or bottle stores, small scale miners, cottage industry operators, operators of commercial waterborne vessels used for the carriage of passengers for profit and fishing rigs.

 

Any person who trades in taxable supplies and whose annual taxable turnover exceeds or is likely to exceed US$60 000.00 must apply to register for VAT on Form REV 1. The submission of VAT returns and payment of the tax due is the 25th of the month following the end of the tax period.

 

Every business person who becomes an employer is required to apply to the Commissioner General for registration within 14 days of becoming an employer

Remittance of Pay As You Earn (PAYE) to ZIMRA is to be done within 10 days after the end of the month during which the amount was withheld.

 

You are required to keep reasonable and proper records and books of accounts for all and all other documents required to be accounted for in terms of the various Acts administered by ZIMRA. Retain all records for at least six (6) years.