News / National
Harare firm fined for failing to submit Income Tax and PAYE returns
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A Harare-based company, Investible Investments (Private) Limited, has been fined US$300 by the Harare Magistrates Court after it was found guilty of failing to submit income tax and Pay As You Earn (PAYE) returns within the statutory timeframe.
The company, represented by its director Mr Gladman Dhliwayo, appeared before Magistrate Gamuchirai Gore to answer to charges brought by the Zimbabwe Revenue Authority (ZIMRA).
According to the State, represented by Prosecutor Ms Faith Mavudzi, the offence came to light following an investigation by ZIMRA's case officer, Ms Kelly Vimbai Mutyembizi, into the company's tax affairs for the financial years 2023, 2024, and 2025.
The investigation revealed that the firm failed to submit required tax returns and did not remit income tax between December 4, 2023, and January 1, 2025. This failure to declare and remit income contravenes provisions of the Income Tax Act.
The court found Investible Investments in violation of its legal obligations and ordered the company to pay a US$300 fine, underlining the importance of tax compliance.
The case serves as a reminder to corporate entities of the necessity to meet all tax-related responsibilities to avoid prosecution and penalties.
The company, represented by its director Mr Gladman Dhliwayo, appeared before Magistrate Gamuchirai Gore to answer to charges brought by the Zimbabwe Revenue Authority (ZIMRA).
According to the State, represented by Prosecutor Ms Faith Mavudzi, the offence came to light following an investigation by ZIMRA's case officer, Ms Kelly Vimbai Mutyembizi, into the company's tax affairs for the financial years 2023, 2024, and 2025.
The investigation revealed that the firm failed to submit required tax returns and did not remit income tax between December 4, 2023, and January 1, 2025. This failure to declare and remit income contravenes provisions of the Income Tax Act.
The court found Investible Investments in violation of its legal obligations and ordered the company to pay a US$300 fine, underlining the importance of tax compliance.
The case serves as a reminder to corporate entities of the necessity to meet all tax-related responsibilities to avoid prosecution and penalties.
Source - The Herald
