The Zimbabwe Revenue Authority (ZIMRA) has announced the deployment of a new tax return form on its TaRMS (Taxpayer Registration and Management System) portal, following the implementation of Finance Act 7 of 2024.
This new tax return, focused on withholding tax on the gross winnings of betting punters, is now available for taxpayers to complete and submit via the Self-Service Portal at mxtaxselfservice.zimra.co.zw.
Under the new tax regime, all betting punters are required to submit a tax return on their gross winnings, with the return due on or before the 5th of the month following the end of the calendar month.
RELATED NEWS
- Government Prepares for Massive Independence Day Event in Gokwe
- All Set for the 2025 Tobacco Marketing Season Kickoff
- Rising Star Oriyano Shines at National Arts Merit Awards
- RTG Invests $26 Million in Upgrades to Elevate Victoria Falls as a Premier Tourist Destination
- Get to Know How Khanyi Mbau Breaks the Barriers of Poverty
The tax rate for this return is set at 10%, and payment must be made by the 10th of the following month.
ZIMRA has advised taxpayers to create the tax type in the Self-Service Portal before submitting their return. The effective registration date for this tax type can be set to any date from January 1, 2025.
If the January 2025 return has not yet been manually captured, taxpayers are encouraged to upload the return in the system promptly.
This move is part of the authority’s ongoing efforts to streamline tax processes and ensure compliance with the latest regulations under the Finance Act 7 of 2024.