Value added tax
Requirement
VAT applies to these transactions:
- The supply of goods and services in Zimbabwe by a registered operator
- The importation of goods into Zimbabwe by a person
- The supply of imported services by a person
- The supply of goods and services through an auctioneer, by a person who is not a registered operator
The VAT rate is 15%.
M3 solution
The calculation, accounting, reporting, and reconciliation of value added tax is supported by generic functionality in M3. Country-specific functionality is then configured from this standard functionality, and delivered with the country version:
- VAT reports and electronic reporting
- Unpaid supplier invoices
- VAT reports by voucher number
- VAT reports by invoice number for customer and supplier invoices