Commercial Farmers' Union of Zimbabwe

Commercial Farmers' Union of Zimbabwe

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Completion of income tax returns

Completion of income tax returns

As already notified by the Commissioner General of the Zimbabwe Revenue Authority (ZIMRA) through General Public Notice Number 7 of 2014 published on the 21st of March 2014, the dates of submission of income tax returns for the year ended 31st December 2013 are as follows:`
30thApril 2014 for persons on Self- Assessment.
31st May 2014 for persons not on Self-Assessment.

The information requirements when completing the appropriate income tax returns are provided below:
Companies not specified as being on Self-Assessment are required to submit.

Income Tax return [ITF 12)
Individuals in trade,or had investment income, or income from  professionsare required to submit.

Income Tax return (ITF1A)
The forms should be completed accurately andin full. The following informationneeds to be attached where appropriate.
Financial statements where applicable  and other information to confirm  declarations made.

Withholding Tax Certificates for non-executive directors.
Certificate of amount withheld on Contracts.

Form ITF 37 where you declare fees ,rentals or investment income received.

Companies  specified as being on Self-Assessment are required to submit.

Self-Assessment returns [ITF 12C]
Financial statements prepared for the tax year should be retained by the taxpayer for six years and only submitted to the Commissioner General of ZIMRA upon request

All persons in receipt of income from employment who, during the year 2013:
Terminated employment; or
Changed employers; or
Started employment; or
Received income from more than one employer; or
Received pension.
Should submit income tax returns [ITF1forms]

Employees’ tax certificates (P6 forms) showing all the remuneration and deductions(including PAYE) made should be attached to the return.
Attach a form ITF 36 where no employees’ tax (PAYE) was deducted from remuneration.


Take note of the following changes as per the Finance Act no 1 of 2014applicable to the 2013 tax year :
The tax free-portion of the Retrenchment package /Approved severance pay is US$10 000 or one third of up to a maximum of US$60 000 whichever is the greater.

All persons who disposed specified assets (immovable property, shares, securities etc.) during the year should submit.

Capital Gains Tax returns (CGT 1 forms).
The following information should be submitted together with the    completed form:
Copy of the agreement of sale.
Copy of the title deeds for the property.
Proof of  amount received  for the specified asset.
National Identity cards for the seller and buyer (in the case of individuals).
Withholding Tax Certificates for capital gains tax.

Every return should be properly signed before submission to the respective Zimbabwe Revenue Authority offices.
Our valued clients are therefore urged to submit the income tax returns that reflect correct and full information in time to avoid penalties.
The Income Tax returns and Capital Gains Tax returns are available on the ZIMRA website (

(f) Reminder for Value Added TAX PAYMENT Date
Our valued clients are hereby reminded that the Value Added Tax for the month of April 2014 is due on or before the 25th of May 2014.

To contact ZIMRA:
Visit our website: www.
Follow us on Twitter :@Zimra_11
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Send us an e-mail: [email protected]
Call us (Head Office) : 263-4–758891/5; 790813; 790814; 781345


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