Income Tax Return Zimbabwe
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Income tax return zimbabwe. Zimbabwe personal income tax nb. Tax return preparation service zimbabwean law obligates every trading business to pay different types of taxes on a periodic basis. You are required under the provisions of the income tax act chapter 23 06 to make on this form a true and correct return of the income received or accrued during the period for which this return is being submitted. As of 1 january 2020 the corporate income tax cit rate for companies other than mining companies with special mining leases but including branches is reduced to 24 72 previously 25 75.
Tax payments must be accompanied by an accurately filled tax return. Income tax law the administration of income tax is governed by the income tax act of zimbabwe chapter 23 06 which guides on how income tax will be levied how it is calculated and other legislative guidelines. This rate includes a base rate of 24 plus a 3 aids levy. Please click here for updated tax tables.
Zimbabwe presently operates on a source based tax system. There shall be charged levied and collected throughout zimbabwe for the benefit of the consolidated reve nue fund an income tax in respect of the taxable income as defined in this part received by or accrued to or in favour of. In all other cases returns have to be filed by 30 april of the subsequent tax year. 26 10 2015 page 1 of 7 i t f 1 zimbabwe revenue authority income tax return.
E filing home page income tax department government of. Employees earning income from one source throughout the year are not required to file a tax return. Specifically within 4 months after the end of the. Personal income tax rate in zimbabwe averaged 40 76 percent from 2004 until 2020 reaching an all time high of 51 50 percent in 2015 and a record low of 24.
1 date of issue. The 3 aids levy. Income tax is levied on earnings income of an individual or a business. The personal income tax rate in zimbabwe stands at 24 72 percent.
Zimbabwe individual income tax is imposed at progressive rates up to 35.
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