ZIMRA Urges Taxpayers to Pay 50pc of Taxes in ZWL

Leafias Mazviro

The Zimbabwe Revenue Authority (ZIMRA) has advised its valued taxpayers to settle 50 percent of their foreign currency portion of their tax obligation in local currency.

This comes after the announcement by the Government on promotion of the use of the local currency in the economy through payment of taxes in Zimbabwe dollars.

The parastatal  announced social media that;

“For the June 2023 Quarterly Payment Date (QPD) all taxpayers are required to settle 50 percent of their foreign Currency portion of their tax obligation in local currency.

“Where the law requires tax liabilities to be paid in local currency, taxpayers are compelled to settle such tax obligations exclusively in local currency.

“Obligations payable in local currency will be converted at the Wholesale Auction Exchange Rate prevailing on the date when the tax fell due (25th June 2023),” reads part of the statement.

ZIMRA said taxpayers should note that the usual penalties for late submission and payment of tax are still applicable. Therefore, taxpayers are urged to submit all tax returns on time and payments for all taxes should be remitted on time and in full through banks.

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