PUBLIC NOTICE:

FIRST INSTALMENT UNDER QPDs DUE ON 25^TH MARCH 2017

 

The Zimbabwe Revenue Authority (ZIMRA) hereby reminds clients whose taxable income includes amounts which are not subject to Pay As You Earn (PAYE) of the following due dates for the payment of Provisional Tax for the tax year ending 31^st December 2017. This includes all clients in receipt of, or to whom income accrued from trade or investment.

The first Quarterly Payment Date (QPD) is 25^th March 2017. This means that 10% of the annual tax payable for the tax year ending 31^st December 2017 is due on or before 25^th March 2017 as illustrated in the table below:

 

Quarterly lnstalment	Due Date (on or before)	Instalment Due (% of the annual tax payable)
1st	25th March, 2017	10%
2nd	25th June, 2017	25%
3rd	25th September, 2017	30%
4th	20th December, 2017	35%

For the purpose of calculating the Provisional Tax for each QPD, clients are required to estimate the annual tax due and calculate the respective percentage of tax due for the quarter. The annual estimated tax due should be revised to update the estimates every quarter. The remittance form for Provisional Tax payments - Form ITF 12B - must be completed in respect of each QPD payment.

 

Kindly note that clients who have received a written notice fixing dates other than the above are required to comply with that written notice.

Please take note of the following:

1. Failure to submit the ITF 12B with estimates entitles the Commissioner General to estimate the taxable income and recover the tax due.
2. Interest will be levied on late payments of tax at stipulated rates.

 

Public Notice No. 6 of 2017