THE Zimbabwe Revenue Authority (Zimra) has directed taxpayers to convert their ZWL tax returns to Zimbabwean Gold (ZiG) value before submitting them on the Tax and Revenue System (TaRMS).
Zimra recently announced the successful transition from ZWL to ZiG, in compliance with the monetary policy introduced earlier this month.
All ZWL tax returns were to be submitted in the new currency value as part of this transition. However, it has been observed that some taxpayers have been submitting their tax returns on TaRMS in ZWL value instead of ZiG.
“The Commissioner of Domestic Taxes has noted with concern that some taxpayers are submitting their returns in ZWL, even for prior periods,” said Zimra.