The standard accounting date for tax purposes in Zimbabwe is the calendar year, which runs from January 1 to December 31. This 12-month period is known as the Year of Assessment for most taxpayers.
However, the Zimbabwe Revenue Authority (ZIMRA) permits companies to use a different date under specific circumstances.
1. The Standard Tax Year
The default tax year for income tax in Zimbabwe is the calendar year:
Start Date: January 1
End Date: December 31
Companies that use this standard year-end are generally required to file their final Income Tax Returns (ITF 12C) by April 30 of the following year.
2. Option for a Different Financial Year
The Income Tax Act [Chapter 23:06] allows a company to apply to ZIMRA to use a different financial year (or fiscal year) for tax purposes, provided they follow the requisite procedure.
Requirement: The company must submit a formal application to ZIMRA, accompanied by supporting documents like a Board Resolution, to justify the change from the standard December 31 year-end.
Tax Return Due Date: If approved, taxpayers with an accounting year other than December 31 should submit their income tax returns within four months after the end of their approved accounting year.
3. Quarterly Payment Dates (QPDs)
Income tax for businesses and other non-employment sources is paid in quarterly installments, known as Provisional Tax or Quarterly Payment Dates (QPDs). These are generally due as a percentage of the estimated annual tax liability on the following dates:
| QPD | Due Date (On or Before) | Installment Due |
| 1st | March 20 | 10% |
| 2nd | June 20 | 25% |
| 3rd | September 20 | 30% |
| 4th | December 15 | 35% |
