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The Zimbabwe Revenue Authority (ZIMRA) has extended its voluntary tax disclosure programme to early December 2026, giving miners and other taxpayers additional time to declare previously undisclosed income without penalties or possible prosecution, as the authority steps up efforts to improve tax compliance across the gold sector, Mining Zimbabwe can report.
By Rudairo Mapuranga
Speaking at Fidelity Gold Refinery’s (FGR) annual strategic meeting, a ZIMRA representative outlined mining-specific tax provisions, including the treatment of gold deliveries by small-scale and large-scale producers, capital redemption allowances and the separate assessment of mining income.
The extension provides an opportunity for miners who have not fully declared their income to regularise their tax affairs before the disclosure window closes.
The official encouraged mining operators to approach ZIMRA and disclose income that had not previously been declared, explaining that the initiative was intended to promote voluntary compliance rather than immediately resorting to punitive enforcement measures.
Mining Income and Tax Compliance
ZIMRA said mining income is assessed separately from income generated by other business activities, reflecting the industry’s distinctive operating structures, investment requirements and fiscal provisions.
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The authority explained that the complexity of the mining sector necessitates specific tax treatment, including the separate treatment of mining losses carried forward.
The presentation also emphasised the importance of maintaining accurate financial and production records, with miners expected to properly account for their income, operating costs and other transactions.
Compliance with gold trading and foreign currency regulations was also identified as an important requirement for operators seeking to participate in the formal gold market.
The authority further highlighted the need for mining companies to comply with statutory requirements governing employee remuneration and benefits, including applicable payment obligations.
ZIMRA Explains Gold Delivery Tax Treatment
The presentation outlined the different tax treatments applicable to gold deliveries, distinguishing between small-scale producers and larger mining companies.
For small-scale miners, the official explained that the applicable provisions take into account monthly gold deliveries to holders of gold-buying licences, with a 0.5-kilogramme threshold featuring in the calculation of the relevant charges.
The presentation also addressed gold supplied through gold-mining agents who collect production from small-scale miners and deliver it to licensed gold buyers.
According to the official, this arrangement is subject to a specific provision under which the 0.5-kilogramme threshold is applied.
For larger producers, ZIMRA outlined a separate tax treatment linked to the value of gold produced and sold, with the applicable charges varying according to prevailing gold price categories.
These distinctions are intended to provide a tax framework that recognises the different production and delivery arrangements across the gold sector.
Capital Redemption Allowances
ZIMRA also highlighted capital redemption allowances available to mining companies, which provide for the tax treatment of qualifying capital expenditure incurred in establishing and developing mining operations.
The official explained that mining investments often involve substantial expenditure before production begins, including exploration activities, mine development and the establishment of operational infrastructure.
Examples of qualifying expenditure outlined during the presentation included mine shaft construction, the acquisition of mining machinery and equipment, plant construction, mine development and infrastructure.
The allowance recognises the capital-intensive nature of mining and enables qualifying expenditure to be taken into account when determining a company’s taxable income, subject to the applicable provisions of tax legislation.
ZIMRA also discussed the different capital allowance treatments applicable depending on whether a company owns a mine or operates a mining property under an arrangement with another party.
Voluntary Disclosure Opportunity
The extension of the voluntary disclosure programme was among the key issues raised during the presentation.
The official said the programme had been extended to early December 2026, allowing taxpayers additional time to declare income that had previously not been disclosed to the authority.
The initiative offers taxpayers an opportunity to regularise outstanding tax affairs without penalties or possible prosecution, subject to the applicable conditions of the programme.
ZIMRA encouraged miners with undeclared income to approach the authority within the extended period and make the necessary disclosures.
The initiative comes as authorities seek to strengthen revenue mobilisation from the mining sector, where growing production and trading activities have increased the importance of effective tax administration.
The presentation formed part of FGR’s annual strategic meeting, held under the theme “Strengthening Partnerships for Sustainable Gold Mobilisation and Responsible Sourcing”. The meeting brought together miners, regulators, financial institutions and other stakeholders to contribute to the development of the refinery’s 2027 Strategic Plan.