PUBLIC NOTICE No 14 Of 2014: QUARTERLY PAYMENT DATE: 25th - TopicsExpress

PUBLIC NOTICE No 14 Of 2014: QUARTERLY PAYMENT DATE: 25th SEPTEMBER 2014 The Zimbabwe Revenue Authority (ZIMRA) would like to remind 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 31st December 2014. This includes all clients in receipt of, or to whom income accrued from trade or investment. Quarterly Due Date Instalment Due Payment Date (on or before) (% of the annual (QPD) tax payable) 1st 25th March, 2014 10% 2nd 25th June, 2014 25% 3rd 25th September, 2014 30% 4th 20th December, 2014 35% For the purpose of calculating the Provisional Tax for each QPD, you 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 if you have received a written notice fixing dates other than the above; you 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. 3. The Income Tax returns for the tax years up to December 2013 which have not yet been submitted are already overdue. A civil penalty of up to $30 for each day’s delay is already accruing as per Statutory Instrument 97 of 2013. It is, therefore, in your interest to urgently submit all the outstanding tax returns. Paying taxes and duties on time and in full builds and dignifies Zimbabwe.