What is an ITF16 Return.

An ITF16 return is an aggregate of monthly P2 returns for a particular year of assessment. ITF16 return is under Pay as you earn (PAYE) tax head. The return is due every 30 days after the end of the year of assessment.

What constitute an ITF16.

The following details should on your ITF16 return.

• • Employee Number
  • Date from which the employee joined the company
  • Surname
  • Name
  • Identity Number
  • Date of Birth
  • Period to which the employee resigned or left the company
  • Salary or Wage
  • Allowances
  • Gratuity
  • Benefits(specify)
  • Deductions(specify)
  • Credits (specify)
  • Paye

Any remuneration, deduction or credit received by a taxpayer maybe added as the above is only a snap shot of what constitute an ITF16 return. You need a draft, kindly email [email protected] and get a draft.

When is the ITF16 Due

Employers are required to extract from their payrolls the ITF16 return and submit to ZIMRA by 30 January 2023. The ITF16 is the return for employment income which is based on remuneration received and accrued in 2022.