The Zimbabwe Revenue Authority (ZIMRA) has issued a reminder to all registered operators under the Value Added Tax (VAT) Act [Chapter 23:12] regarding the compliance requirements for Fiscal Tax Invoices (receipts). This reminder aims to ensure compliance and streamline the VAT process for all registered operators.
Compliance with the fiscalization data management system in Zimbabwe
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Author: Nikolina Basić
Category:
Fiscal subject related
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3176
Content accuracy validation date:
25.10.2024
Content accuracy validation time:
08:04h
It is stated that:
- Fiscal device requirement: all fiscal tax invoices (receipts) must be generated by a fiscal device that is integrated with the ZIMRA Fiscalization Data Management System (FDMS).
- Non-compliance consequences: invoices (receipts) that do not comply with these requirements cannot be used to claim VAT input tax or income tax expenditure.
- Invoice (receipt) Features: According to Section 20(4) of the VAT Act, a compliant fiscal tax invoice must include:
- The words “Fiscal Tax Invoice” are prominently displayed.
- The supplier's name, address, and registration number.
- The recipient's name, address, and registration number (if applicable).
- A unique serial number and the date of issuance.
- A description of the goods or services supplied.
- The quantity or volume of goods or services supplied.
- The amount of tax charged.
- Verification process: to ensure an invoice is generated by a compliant fiscal device:
- The invoice (receipt) should feature a verifiable QR code, which can be authenticated via a QR code scanner or the ZIMRA FDMS portal.
- The details on the printed invoice must match those transmitted to the FDMS and be verifiable.
- The invoice (receipt) should show as 'valid' on the validation portal without errors. Any discrepancies must be rectified by the issuer.
- Buyer Information: When a buyer requests a fiscal tax invoice (receipt), it is mandatory to capture the buyer's full details, including:
- Buyer Name
- Buyer Address
- Buyer TIN
- Buyer VAT Number (if registered for VAT)
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