Urgent Notice: 1st Quarterly Payment Date (QPD) for 2026 Due This March
As we navigate the first quarter of the 2026 tax year, the Zimbabwe Revenue Authority (ZIMRA) and professional advisors are reminding all taxpayers that the deadline for the 1st Quarterly Payment Date (QPD) is fast approaching.
Under the new regulatory framework introduced by Statutory Instrument 81 of 2025, there is now a critical distinction between the date you submit your paperwork and the date you pay the actual tax.
📅 Key Deadlines for March 2026
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Tax Return (ITF 12B) Submission: Due on or before 20 March 2026.
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Tax Payment: Due on or before 25 March 2026.
Failure to submit the return through the TaRMS portal by the 20th, or failing to remit the funds by the 25th, will trigger automatic penalties and interest.
How to Compute Your 1st QPD
The 1st QPD represents 10% of your estimated annual tax liability for the 2026 tax year. Since Zimbabwe operates on a self-assessment system, the burden is on the taxpayer to project their annual profits accurately.
The Calculation Formula:
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Estimate Annual Taxable Income: Project your total income for the period 1 January 2026 to 31 December 2026.
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Apply Tax Rate: For most companies, the corporate tax rate is 25% plus the 3% AIDS Levy (an effective rate of 25.75%).
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Calculate 1st Installment: Multiply the total estimated tax by 10%.
Example: If your projected tax for the year is US$10,000, your 1st QPD payment due this March is US$1,000.
Understanding the “50:50” Payment Rule
One of the most significant requirements for the 2026 tax year is the currency of payment. To stabilize the economy and ensure a fair contribution of foreign currency to the national fiscus, the government has mandated a 50:50 payment ratio for many taxpayers.
1. Who does this apply to?
If your business earns income in both local currency (ZiG) and foreign currency (USD), you must be guided by your income ratios:
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Forex Income > 50%: If more than half of your revenue is in USD, you must account for your tax on a 50:50 basis. This means half of your tax liability is paid in USD and the other half in ZiG (converted at the prevailing interbank rate).
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Forex Income < 50%: If your local currency trade dominates, you generally pay in the actual currency of trade. However, ZIMRA often encourages the 50:50 split to simplify accounting for businesses with mixed streams.
2. Why the 50:50 Split?
The 50:50 rule prevents “currency arbitrage” where businesses might try to pay all their taxes in a weaker currency while holding onto stronger currency. For the 1st QPD of 2026, ensure your treasury department has allocated enough USD liquidity to meet this specific ratio.
Checklist for Taxpayers
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Review Estimates: Don’t just copy 2025 figures; account for the new 2026 VAT rate of 15.5% and the reduced IMTT of 1.5% on ZiG.
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TaRMS Readiness: Ensure your TIN (Taxpayer Identification Number) is active and your bank account is correctly linked for TaRMS validations.
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Currency Check: Calculate your USD vs. ZiG revenue split to determine if you fall under the mandatory 50:50 payment rule.
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No Manual Returns: Remember that ZIMRA no longer accepts manual schedules unless specifically authorized. Everything must be uploaded via the Self-Service Portal.
