As part of Zimbabwe Revenue Authority (ZIMRA) Business Process Re-engineering, ZIMRA will introduce the Tax and Revenue Management System known as TaRMS. It will be live on October 12, 2023. This is part of the organization’s focus on simplifying business processes for the convenience of taxpayers and also providing a convenient platform in relation to other changes that will happen in Zimbabwe, known as virtual or software fiscalization. TaRMS will be the new system for automating domestic tax processes, replacing the current system (SAP TRM).
A new Tax and Revenue Management System (TaRMS) is introduced in Zimbabwe
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Author: Kristina Dosen
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Fiscal subject related
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3042
Content accuracy validation date:
13.10.2023
Content accuracy validation time:
08:27h
The general benefits of these new systems are the following:
- Taxpayer Registration
- Tax Return Management
- Payments Management
- Refunds Management
- Debt Management
Of course, every part of the new system contains novel changes and a lot of features to be as convenient as possible for taxpayers. Also, the taxpayers are called in September to update certain data to be able to access the new system, or, in other words, make the migration process go smoothly.
From a fiscalization perspective, a public notice has also been issued by the ZIMBRA, where it is stated that all registered operators and taxpayers who are required to fiscalize under the Value Added Tax (VAT) Act are still required to upgrade fiscal devices to comply with the requirements of the Fiscalization Data Management System (FDMS). Also, it is stated that approved suppliers of fiscal devices are working towards finalizing upgrading the taxpayers’ systems and fiscal devices to integrate with the FDMS in compliance with Public Notice 50 of 2023. One of the novelties is generating QR codes on receipts and invoices.
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