ZETDC mandates VAT Number on electricity bills amid ZIMRA system upgrade

The Zimbabwe Electricity Transmission and Distribution Company (ZETDC) has announced a new directive requiring all Value Added Tax (VAT) registered customers to include their VAT Number and Taxpayer Identification Number (TIN) on electricity bills.

This mandate is a result of the Zimbabwe Revenue Authority’s (ZIMRA) upgrade to its Fiscalization Data Management System, aimed at enhancing the fiscalisation process of all invoices.

In a statement, ZETDC emphasized the importance of compliance with the new requirement, urging all VAT registered customers to update their VAT Numbers and TINs by September 15, 2024.

“This upgrade by ZIMRA is part of a broader effort to ensure greater transparency and accuracy in tax reporting,” stated ZETDC, stressing that this change is now compulsory for all affected customers.

The move reflects ZIMRA’s continued push to modernize its systems and improve tax collection efficiency. The fiscalisation process, which involves the electronic recording of sales and taxes due at the point of sale, is a critical component of Zimbabwe’s efforts to enhance revenue collection and reduce tax evasion.

ZETDC’s directive highlights the company’s commitment to supporting the government’s initiatives aimed at strengthening the country’s fiscal framework. By ensuring that all VAT registered customers adhere to this new requirement, ZETDC is playing a pivotal role in aiding ZIMRA’s efforts to streamline tax processes across the country.

Failure to comply with this directive could result in complications for businesses, as accurate and timely tax reporting is crucial for maintaining good standing with tax authorities.-ebsinessweekl