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ZIMBABWE REVENUE AUTHORITY. Return for the Remittance of P.A.Y.E.

Rent/royalties income Rents and royalties are generally treated as normal taxable income and are taxed at the basic CIT rate. Rent arising in respect of land and buildings situated outside of Zimbabwe, however, is exempt from local tax.

Notes for completing the Income Tax Self Assessment Return [ITF 12C] These explanatory notes are meant to give guidance to clients on the completion of the Self-Assessment Return (ITF 12C). 1. Completion and submission of return. The return should be completed in full and submitted online through e-services and e-taxes ...

Take all forms of remuneration should into account before subjecting the income to tax. PAYE is calculated as follows: Determine gross income for the day/week/month/year. Deduct exempt income, for instance bonus as per limit in the Act, you get => Income.

The tax-free threshold amount for employees bonus and performance awards was increased to ZWL$500,000 with effect from 1 November 2022 from ZWL$100,000. The tax-free threshold for those paid in USD remains at US$700.

The due date for the submission of PAYE returns and payment is the 10th of the following month. PAYE is calculated as follows: Determine gross income for the day/week/month/year. Deduct exempt income, for instance bonus: You get => Income.

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.