Staff Reporter

The Zimbabwe Revenue Authority (ZIMRA) has issued a public notice emphasising the importance of tax compliance within the construction, iron and steel industries. 

The regulatory body announced yesterday that it will conduct assessments to ensure adherence to tax laws across all applicable categories.

This initiative is part of ZIMRA's efforts to foster transparency and encourage compliance among industry stakeholders, including contractors, suppliers, and service providers.

 Notable industry players such as construction companies, surveyors, electrical engineers, and land developers are among those expected to comply. 

Suppliers such as hardware providers, cement manufacturers, and iron and steel merchants also fall under the purview of this exercise.

ZIMRA has reminded stakeholders to settle any outstanding tax returns and payments promptly to avoid penalties, interest, and potential litigation. 

To facilitate this, returns can be submitted via the TaRMS Self-Service Portal, accessible through the official ZIMRA website. 

Tax payments must be made in full, on time, and in the applicable currency of trade.

In addition to online services, ZIMRA has deployed self-service centres across the country to assist stakeholders in meeting their tax obligations. 

The authority reiterated its commitment to supporting taxpayers and fostering a fair and sustainable tax system.

Meanwhile, tax compliance is essential for the growth and development of a nation.

 It enables Governments to fund critical public services such as healthcare, education, and infrastructure development.

 By paying taxes, citizens and businesses contribute to the economic stability and sustainability of their country. 

Furthermore, compliance reduces the risk of penalties and legal disputes, ensuring smoother business operations and fostering trust between the government and its citizens.