Zimbabwe Revenue Authority (ZIMRA) has extended its tax net by going after the affluent property owners and tenants at Borrowdale Brooke Golf Estate as it is demanding information on their properties.

In a notice released on August 28 the Borrowdale Brooke Homeowners Association (BBHA) stated the details which the tax authority wants.

This includes names of property owners and tenants, lease commencement dates and contact details.

“The Borrowdale Brooke Homeowners Association wishes to advise residents that the Zimbabwe Revenue Authority (ZIMRA) has requested information relating to properties within the Estate.

“The information requested is: property owner’s name; tenant’s name; lease commencement date; and contact details of owners and tenants.”

However, the BBHA said it would seek legal assistance on the directive.

“The Association sought comprehensive external legal advice to determine the extent of its obligations and the scope of information that may lawfully be disclosed

“In terms of the said provision, the Association is under a legal obligation to comply with the request.

“We therefore advise residents that the Association is working with ZIMRA and will be releasing the information shortly,” it said.

“No information beyond the statutory request shall be disclosed,” the association said.

The decision by ZIMRA is most likely targeting implementing the Wealth Tax which was introduced in 2023.

At its core, the Wealth Tax is a form of taxation levied on the value of a dwelling other than one’s principal private residence.

The term “dwelling” signifies a home, place of residence, domicile, or abode by natural persons such as houses, apartments, and condos.

Not all dwellings are subject to wealth tax.

The target are second homes, which are dwellings not used as owner’s principal private residence with a value of more than USD250,000.

The tax is calculated at a rate of one percent of such value but may not exceed USD50,000 in a year of assessment.