ZIMRA targets private jet, luxury vehicle owners

Vuyisile Mlilo Business Reporter

The Zimbabwe Revenue Authority (Zimra) has launched a voluntary tax blitz targeting private jet and luxury vehicle owners

In a statement Zimra said the 30-day voluntary tax blitz was targeted at individuals who own houses, private jets, and luxury vehicles valued at over US$100 000, who will be required to declare their assets to the tax collector for the purpose of paying the necessary taxes.

“The Zimbabwe Revenue Authority encourages all persons to review their business or personal affairs and make voluntary disclosures where there is any income omitted from tax returns submitted or where there are any tax obligations that the taxpayer may not have complied with,” reads the statement.

The move comes as the government intensifies efforts to widen its tax net and increase revenue collection in the face of a challenging economic environment.

“Any persons in the following categories are encouraged to take advantage of this opportunity: any persons who have constructed houses that cost US$100,000 or more, any persons who have traded or are trading in gold or other minerals, luxury vehicle owners (vehicles worth US$150 000 or more), owners of private jets or lessors of private jets, middlemen or agents of goods manufactured in Zimbabwe, transport operators and taxi operators and 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 or 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 taxes may include Value Added Tax (tax on goods and services supplied where the seller met registration threshold), income tax (tax on income received or accrued from sales of goods and or services), Capital Gains tax (tax on disposal of immovable property, marketable securities and intangibles and PAYE (tax on income earned by employees),” reads the statement.

The tax collectors said interest shall be charged to the extent provided in the law.

“The commissioner shall give due considerations to penalties liable where full and complete declarations are made. The submission of a true and full voluntary disclosure shall not trigger an audit. This window shall expire within 30 days from date of publication. Any cases of non-compliance that may be established thereafter shall be treated based on the full tenets of the law,” reads the statement.