SHOW US THE TAXES

Tanaka Mahanya

IF you have recently bought a private jet, or are leasing it, then go to ZIMRA and declare the transaction and show the taxes which were paid to the authority.

The same applies to those who have built houses at a cost of at least, US$100 000 and those who have traded in gold, or other minerals, or have recently bought cars worth at least US$150 000.

Businessman, Wicknell Chivayo, recently claimed he had bought a private jet for US$2 million.

The ZIMRA authorities have urged such individuals to make voluntary disclosures of the transactions and avail their compliance to tax commitments.

Any persons in the following categories are encouraged to take advantage of this opportunity:

  1. a) Any persons, who have constructed houses that cost US$100 000 or more;
  2. b) Any persons who have traded, or are trading in gold or other minerals;
  3. c) Luxury vehicle owners (worth US$150 000 or more);
  4. d) Owners of private jets or lessors of private jets:
  5. e) Middlemen or agents of goods manufactured in Zimbabwe:
  6. f) Transport operators and taxi operators:
  7. g) Any persons or companies who have constructed buildings with a value of US$100 000 or more.

“It is a requirement that any person should ensure that if they earned any income, through business/trade, which is subject to tax, the tax should be paid.”

“In carrying out business or trade persons may have generated, accrued or received income and the following taxes including Value Added Tax, Capital Gains Tax, tax on income earned by employees, and income tax.

“Requirements for voluntary disclosure Taxpayers should provide schedules detailing the outstanding taxes, complete the outstanding returns and pay the tax due or engage ZIMRA for arrangements to pay the tax due.

“Interest shall be charged to the extent provided in the law.

“The Commissioner (Regina Chinamasa) shall give due considerations to penalties liable where full and complete declarations are made.”

ZIMRA said submission of a true and full voluntary disclosure shall not trigger an audit.

“This window shall expire within 30 days from the date of publication.

“Any cases of non-compliance that may be established thereafter shall be treated based on the full tenets of the law.”

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