VAT Catergory
|
Category |
Tax Period |
Due Date |
|
A |
December/January, February/March, April/May, June/July, August/September and October/November |
By 25th day of the month following the end of the tax period
|
|
B |
January/February, March/April, May/June, July/August, September/October and November/December | |
|
C |
Monthly | |
|
D |
Tax period other than A, B, C approved by the Commissioner |
The VAT Act defines a registered operator to mean any person who is registered or is required to be registered in terms of the VAT Act [Chapter 23:12]. Operators who have not registered with ZIMRA need to review their operations and confirm whether they are not eligible for VAT registration using the following guidelines:
VAT Registration Requirements
Any person who is carrying on trade must compulsorily register where the value of taxable supplies exceeds $60,000.00 or in any period of 12 months or there are reasonable grounds that taxable supplies will exceed $60,000.00 in the period of 12 months going forward.
Where the registration threshold is met, there is need to:
- Complete the REV 1 Form and submit to the nearest Zimra Office,
- Attach Sales schedule from the time of commencement of trade to date; or
- Provide Sales projections schedule for the next 12 months; or
- Attach Business agreements confirming the trade that is going to take place
- Attach current stamped bank statements.
- Attach Proof of residence/place of business.