Tax Return Preparation Service

Tax payments must be accompanied by an accurately filled tax return. The return contains the type of tax being paid for and the specific details to do with that payment. Returns are an obligation for all tax registered businesses regardless of whether you are trading, making a profit or a loss.

What is included in the service?

  • As part of compliance, every month, every quarter, or yearthere are some tax returns which needs to be filed with the tax authorities.
  • Each tax head has its own returns and due dates.
  • A client is obliged to avail correct information for tax computations before due date.
  • Commnly prepared are the following returns:

Income Tax Returns (QPDs)

these are estimated income tax retrns based estimated tax profit. Estimated income tax is paid on quarterly instalments known as QPDS (Quarterly payment dates) that is end of March , June, September and December
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PAYE Tax Returns

a taxpayer has the authority to deduct taxes from employee salaries and remit to ZIMRA on or before the 10th of the following month.
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Annual Tax Returns

at the end of every year an ITf16 which is a consolidation of January to December payrolls is due on or before the 30th of January of the following year. Actual income tax return (ITF12C) which is compiled from actual financial statements of the organisation is due on or before the 30th of April of the following year.
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VAT Returns

VAT returns and payments are due on the 25th day of the following month.
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Withholding Tax

tax withheld mainly from suppliers without a valid tax clearance is due on the 10th of the following month.
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Requirements for tax return services

These are the requirements needed for each service.

Requirements for Income Tax Returns

  1. Business partner number
  2. Nature of business
  3. Contact person & contact details
  4. ZIMRA e-filling email address & password.
  5. Revenue turnover (sales/income)
  6. Revenue turnover (export)
  7. Other income
  8. Opening stock
  9. Purchases (cost of production)
  10. Closing stock
  11. Expenses (associated with production of income)
  12. 12 asset register
  13. 13 qpds paid

Requirements for PAYE Tax Returns

  1. Trade name
  2. Business partner number
  3. Physical address
  4. Email address
  5. Sales
  6. Purchases
  7. Operating expenses
  8. payroll or list of employees and their salaries
  9. employees’ id numbers and date of birth
  10. any medical contributions made by the employee

Requirements for VAT Returns

  1. Name of registered operator
  2. Trade name of registered operator
  3. BP number
  4. VAT number
  5. Tax period
  6. Physical address
  7. E-mail address
  8. Contact person & contact details
  9. ZIMRA e-filling email & password
  10. Supply of goods and/or services at standard rate 14.5%
  11. Supply of goods and/or services at 0%
  12. Exempt supplies
  13. Imported services (apply standard rate 14.5%)
  14. schedule of goods or services acquired locally and charged VAT
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