ZIMBABWE INTRODUCES NEW TRANSFER PRICING RETURN FOR TAXPAYERS
African Tax Administration Forum • March 23, 2020
In March 2020, with the assistance of the ATAF International Taxation team, Zimbabwe released an advance version of the transfer pricing return
that taxpayers are directed to file with their annual self-assessment corporate income tax return for the year ended 31 December 2019. The return supplements the new transfer pricing reporting requirements Zimbabwe introduced in 2019.
The transfer pricing return must be completed by all taxpayers with international and/or domestic related party transactions. The information requested in the return will assist the Zimbabwe Revenue Authority (ZIMRA) to identify and assess potential risks to Zimbabwe’s tax base from abusive transfer pricing practices and ensure that ZIMRA focuses its resources on the highest risk cases. This will provide greater tax certainty and reduce compliance costs for complaint taxpayers in Zimbabwe.
The return is based on the recommended return format set out in the ATAF Suggested Approach to Drafting Transfer Pricing Legislation.
The African Tax Administration Forum (ATAF) is an organisation which was established by African revenue authorities in 2009 to improve the performance of tax administrations in Africa. ATAF believes that better tax administration will enhance economic growth, increase accountability of the state to its citizens, and more effectively mobilize domestic resources.
The ATAF International Taxation team is dedicated to assisting ATAF Members at risk of tax losses from ineffective transfer pricing rules, in introducing new effective rules based on the ATAF Suggested Approach to Drafting Transfer Pricing Legislation
and the Suggested Approach to Drafting Transfer Pricing Practice Notes.
Contact details:
Media and Communications :
Phone : +27 (0)12 451 8842 /+27 (0) 79 790 960
Email : rnkoulouella@ataftax.org
ATAF International Taxation Unit :
Telephone: +27 12 451 8800
Email: tshongwe@ataftax.org
The ATAF Model Tax Agreement serves as a guiding instrument to help African nations negotiate treaties that better protect their interests, ensure fair allocation of taxing rights, and enhance domestic revenue mobilisation.
CEMAC and ATAF agreed to explore practical avenues for cooperation, including technical assistance, regional training programmes, and platforms for experience exchange.
A key outcome of the training was the heightened awareness among FIRS officials of the critical role data plays in modern tax administration.
The training aimed to strengthen the capacity of tax officials to detect, investigate, and prosecute financial crimes such as tax evasion, money laundering, and illicit financial flows. It focused on practical approaches to financial crime investigation within the tax context.
Mr. Logan Wort emphasized the critical role of taxpayers in fostering economic growth and sustaining public services.
Taxation is a key aspect to increase gender equality since tax is one of the building blocks of society. In particular, it creates domestic resources which are a major source of funding for economic development and empowerment.
ATAF emphasised the importance of harmonised tax systems and advocating for revenue-generation mechanisms that would sustain government finances while fostering trade liberalisation.
ATAF is gearing up for a highly anticipated event: the ATAF Women in Tax Network Leadership Conference. Set to take place in Cape Town, South Africa, on March 5-6, 2025, this conference promises to be a pivotal moment for women in the tax and economic sectors across Africa.
The ATAF Women In Tax Network (AWITN) pledge is a commitment by various countries to adopt a focused, gender-sensitive approach to tax policy and administration.
The workshop aimed to bridge the gap between tax authorities and the media, improving the clarity and accessibility of tax-related information to foster public awareness and boost tax compliance.
