Chronicle Editor
Sikhulekelani Moyo [email protected]
The Zimbabwe Revenue Authority (Zimra) is set to engage taxpayers to address tax compliance across all tax categories.
Some of the stakeholders include churches, and all subsectors of the construction sector, where the revenue authority has already published notices to inform them about the engagements.
In a Public Notice 98 of 2024, Zimra said this forum is part of Zimra’s ongoing efforts to promote transparency and provide compliance support.
“The date and venue of the engagement will be communicated in due course,” reads the notice.
“Churches are reminded of the following important tax guidelines:
“The following types of income streams are exempt from income tax: donations, tithes, offerings, and contributions.”
The authority said Non-Trading Receipts include any income that does not arise from trade or investment activities conducted by or on behalf of the church or its institutions.
“Income derived from trading activities is subject to income tax. Examples of taxable income include but are not limited to proceeds from the sale of church literature, books, or music, revenue from the sale of church-branded merchandise (e.g., apparel, anointing oils, artefacts, etc.), income from the sale of meals, clothing, or similar items.
“Additionally, such sales may attract value-added tax (VAT) depending on the sales thresholds.”
Zimra also reminds all taxpayers to register for all the applicable taxes and submit any outstanding returns as soon as possible.
They said timely submission of returns and payments helps avoid penalties, interest and litigation.
“By staying compliant, you contribute to building a stronger and more sustainable economy,” said Zimra.
@SikhulekalaniM1
Online Reporter