1. ZIMRA Registration (BP Number) and Clearance Certificate(ITF 263)
ZIMRA Registration is part of formalizing a business in Zimbabwe and it enables the company to obtain the ZIMRA Business Partner (BP) Number
All companies are therefore supposed to register with ZIMRA within 30 days of incorporation.
- For a business to obtain a tax clearance certificate, also known as the ITF 263 or trading tax clearance, it has to be registered with ZIMRA.
Requirements to Obtain a BP Number & Tax Clearance?
- Certified copy of all the company documents
- Certified copies of IDs of at least two Directors
- Proof of residence of the directors
- Current Bank Statement of the Public Officer
- Current Bank Statement of the company
- Letter appointing public officer
Contact Us today and make sure you never get left out. Register your company with us and standout against your competition
We assist our clients with any tax related issues such as
- ZIMRA Registration
- VAT Registration
- PAYE Registration
- Filling Returns
Be compliant to avoid any legal penalties
Do you want a Clearance Certificate ?
What are the requirements for importing a motor vehicle under rebate on motor vehicles for the physically handicapped ?
- Application letter
- Certified photocopy of the individual’s identity document
- Proof of residence
- Medical report from a specialist doctor who specializes in the client’s particular disability
- Pro-forma invoice for the desired motor vehicle
- Driver’s license
- The motor vehicle should have been manufactured in the last 10 years, i.e. from 2002 to date, and should be either a sedan or a station wagon.
- The rebate suppresses the payment of duty so only VAT remains payable.
- You are supposed to be issued with the rebate letter before the motor vehicle arrives at the port of entry so that the details on the letter are checked against the motor vehicle when it arrives.
What are the exemptions for Disabled People?
The current tax legislation provides for a number of tax concessions, which are meant to provide tax relief to elderly persons. These tax concessions, which are mostly in the form of tax exemptions and credits.
For the purposes of these concessions, an elderly person is a person aged 55 years or more. These include:
- Exemption from Income Tax of the first $30,000.00 per annum on rental income.
- Exemption from Income Tax of the first $30,000.00 per annum on income earned from bankers acceptances.
- Exemption from Income Tax of the first $30,000.00 per annum on income earned from interest on deposits to financial institutions.
- Entitled to an elderly persons’ credit of $9,000.00 per annum.
- Pension received from a pension fund or the Consolidated Revenue Fund is exempt from Income Tax.
- Where an employer disposes of a motor vehicle to an employee whether on termination of employment or otherwise, the benefit is exempt from tax.
Capital Gains Tax
- The full amount arising from the disposal of a Principal Private Residence (PPR) by persons who are 55 years or above on the date of the sale is exempt from Capital Gains Tax.
- The first $18,000.00 that accrues on the sale of any unlisted marketable security is exempt
As a new trader what are my obligations to ZIMRA ?
Certificate of Incorporation;
2. CR14: contains details of directors
3. CR6: contains registered address of company
4. Stamped current Bank Statement;
5. Memorandum of Association (1st 3 pages plus the last page)
6. Articles of Association (1st 3 pages plus the last page)
7. Documents for at least 2 Directors
a) Identity card;
b) Proof of residence in form of utility bills, support with affidavit if bill is not in your name.
8. Documents for the Public officer
a) Letter of appointment as public officer, stating the name, ID Number, Residential address and a statement to the effect that the public officer is a signatory to the company’s bank account;
b) Identity card
c) Stamped current bank statement;
d) Proof of residence in form of utility bills, support with affidavit if not in your name.
1. Stamped current bank statement;
2. Copy of ID;
3. Copy of proof of residence in the form of utility bills, supported with affidavit if not in the trader’s name.
After registration is confirmed the company is allocated a Business Partner Number (BPN) and advised of the tax heads registered for.
Every registered client is required to submit a tax return after the end of each tax year by 30 April of the following year. The tax year runs from 1 January to 31 December of each year.
Some business operators are required to pay Presumptive Taxes and this includes operators of omnibuses, taxi-cabs, driving schools, goods vehicles, hairdressing salons, informal traders, operators of restaurants or bottle stores, small scale miners, cottage industry operators, operators of commercial waterborne vessels used for the carriage of passengers for profit and fishing rigs.
Any person who trades in taxable supplies and whose annual taxable turnover exceeds or is likely to exceed US$1,000,000.00 must apply to register for VAT on Form REV 1. The submission of VAT returns and payment of the tax due is the 25th of the month following the end of the tax period.
Every business person who becomes an employer is required to apply to the Commissioner General for registration within 14 days of becoming an employer
Remittance of Pay As You Earn (PAYE) to ZIMRA is to be done within 10 days after the end of the month during which the amount was withheld.
You are required to keep reasonable and proper records and books of accounts for all and all other documents required to be accounted for in terms of the various Acts administered by ZIMRA. Retain all records for at least six (6) years.
What is a Tax Clearance Certificate?
A Tax Clearance Certificate is a pre-requisite when applying for licences issued by local authorities. A tax clearance certificate enhances business compliance profile as the taxpayer deals with other businesses. Increases stakeholders’ confidence in taxpayers’ business.