The Zimbabwe Revenue Authority has noted that some registered operators have not fiscalised the recording of their taxable transactions. It is a legal requirement that registered operators must fiscalise their operations. Registered operators who fiscalise the recording of their taxable transactions must also ensure that the fiscal devices are interfaced with Zimra servers for the purposes of transmitting information to Zimra.

Fiscalisation requirements

Fiscalisation refers to the use of fiscal devices to record taxable transactions on the read-only fiscal memory at the time of sale for Value Added Tax (VAT) purposes. All VAT registered operators are required by law to use fiscal devices when recording sales transactions for Value Added Tax Purposes.

The registered operator should ensure that all points of sale are fiscalised in all its branches.

It is the duty of the registered operator to ensure that the fiscal machines are functional all the time.

Once the registered operator is fiscalised the law does not allow them to use any other systems without the approval of Zimra.

Benefits of fiscalisation to registered operators (R/O)

Use of Fiscal devices enhances good record keeping

Fiscalisation reduces chances of errors when compiling VAT returns

Chances of fraudulent practices by cashiers are minimised.

The registered operator claims 50 percent of the cost of the fiscal device as VAT input tax upon purchase.

The remaining 50 percent of the purchase price of the device is claimed through capital allowances.

Systems interfacing requirements

Interface means linking/connecting of a registered operator’s fiscal devices to the Zimra server to transmit sales data.

All registered operators are required by law to interface all of their fiscal devices to the Zimra server.

The registered operator should contact their supplier of fiscal devices for interface assistance.

Once a device has been interfaced, it should be able to transmit data to the Zimra server.

The registered operator is obliged to run reports daily.

Implications for failure to interface

Any registered operator whose device is not interfaced is liable to penalties and prosecution procedures maybe instituted if one continues to be in default.

My Taxes, My Duties: Building my Zimbabwe!!

Disclaimer: This article was compiled by the Zimbabwe Revenue Authority for information purposes only. Zimra shall not accept responsibility for loss or damage arising from use of material in this article and no liability will attach to the Zimbabwe Revenue Authority. 

 

To contact ZIMRA:WhatsApp line:+263 782 729 86 Visit our website: www. zimra.co.zw Follow us on Twitter: @Zimra_11Like us on Facebook: www.facebook.com/ZIMRA.11 Send us an e-mail:  [email protected]/[email protected] Call us (Head Office):   04 –758891/5; 790813; 790814; 781345; 751624; 752731 e-TIP : http://ecustoms.zimra.co.zw/etip/

 

You Might Also Like

Comments

Take our Survey

We value your opinion! Take a moment to complete our survey