The deadline for tax amnesty applications has expired with calls by the business community for the Zimbabwe Revenue Authority (ZIMRA) to extend the deadline
ZIMRA’s tax amnesty was aimed at allowing individuals and companies to regularise their tax affairs in exchange for a relief on penalty, interest and prosecution.
While ZIMRA has made its position clear that it is unlikely to extend the deadline for the submission of applications, some tax experts have appealed for more time to regularise their tax position.
As of the end of February, the revenue authority which is owed over US$1 billion, had received 1471 applications, and out of these, 159 were rejected mainly because of incomplete information.
The tax amnesty covered offences which were committed in February 2009 to September 2014 and the period within which a person could apply for tax amnesty was from October 2014 to March 31 2015.
Meanwhile tax experts held a tax update seminar in Harare this Tuesday to investigate efficient ways to manage audits and to revisit tax implications of the 2015 budget.