Related documents
Zimbabwe
Finance Act
Chapter 23:04
- There are multiple commencements
- [This is the version of this document as it was from 14 March 2018 to 19 February 2019.]
- [Note: This version of the Act was revised and consolidated by the Law Development Commission of Zimbabwe]
Provisions | Status |
---|---|
Chapter II (section 24–25) | commenced on 5 July 1965. |
Chapter III (section 26–27) | commenced on 23 February 1966. |
Chapter IV (section 28–31); Chapter V (section 32–33) | commenced on 1 April 1967. |
Chapter VI (section 34–35) | commenced on 1 February 1968. |
Chapter VII (section 36–37A) | commenced on 6 September 1968. |
Chapter VIII (section 37A–39A) | commenced on 1 August 1981. |
Chapter I (section 4–23) | commenced on 1 April 1988. |
Chapter XII (section 48–49) | commenced on 23 March 2017. |
Chapter I, Part III, section 14(2)(e1), section 22M | commenced on 14 March 2018. |
Section 1–3; Chapter VIII, section 37A; Chapter IX (section 40–41); Chapter X (section 42–46); Chapter XI (section 45–48); Chapter XII, section 49(1)–(2) | not yet commenced. |
- [Amended by Finance Act, 2018 (Act 1 of 2018) on 14 March 2018]
1. Short title
This Act may be cited as the Finance Act [Chapter 23:04].2. Interpretation
2A. Meaning of small or medium enterprise or business
2B. ***
[section repealed by Act 8 of 2011]3. Regulations
Chapter I
Income tax and other taxes levied in terms of the Income Tax Act
Part I – Preliminary
4. Interpretation in Chapter I
4A. Payment of certain taxes in foreign currency
Part II – Credits to be deducted from income tax
5. Credits to which section 7 of Taxes Act relates
6. ***
[section repealed by Act 13 of 1996]7. ***
[section repealed by Act 17 of 1995]8. ***
[section repealed by Act 17 of 1995]9. ***
[section repealed by Act 17 of 1995]10. Taxpayers over 55 years of age
A credit of the specified amount shall be deducted from the income tax with which a taxpayer is chargeable, where he or she had attained the age of fifty-five years prior to the commencement of the year of assessment.Provided that, if the period of assessment is less than twelve months, the amount referred to in this section shall be reduced proportionately.[section substituted by Act 10 of 2009]11. Blind persons
A credit of the specified amount shall be deducted from the income tax with which a taxpayer who is a blind person is chargeable:Provided that any portion of such credit which is not applied in reduction of the income tax with which a blind person who is married is chargeable shall be allowed as a deduction from the income tax with which his or her spouse is chargeable.12. Invalid appliances and medical expenses
13. Mentally or physically disabled persons
Part III – Rates of income tax and other taxes levied in terms of the Income Tax Act
14. Income tax for periods of assessment after 1.1.10
15. Non-resident shareholders’ tax
The non-resident shareholders’ tax chargeable in terms of section 26 of the Taxes Act shall be calculated—16. ***
[section repealed by Act 29 of 1998]17. Resident shareholders’ tax
The resident shareholders’ tax chargeable in terms of section 28 of the Taxes Act shall be calculated—18. ***
[section repealed by Act 5 of 2009]19. Non-residents’ tax on fees
The non-residents’ tax on fees chargeable in terms of section 30 of the Taxes Act shall be calculated at the rate of fifteen per centum of each dollar of the fees from which such tax is to be withheld and paid in terms of the Seventeenth Schedule to that Act.[section amended by Act 10 of 2009]20. Non-residents’ tax on remittances
The non-residents’ tax on remittances chargeable in terms of section 31 of the Taxes Act shall be calculated at the rate of fifteen per centum of each dollar of the remittance from which such tax is to be paid in terms of the Eighteenth Schedule to that Act.[section amended by Act 3 of 2010]21. Non-residents’ tax on royalties
The non-residents’ tax on royalties chargeable in terms of section 32 of the Taxes Act shall be calculated at the rate of fifteen per centum of each dollar of the royalty from which such tax is to be withheld and paid in terms of the Nineteenth Schedule to that Act.[section amended by Act 10 of 2009]22. Residents’ tax on interest
The residents’ tax on interest chargeable in terms of section 34 of the Income Tax Act shall be calculated at the rate of—22A. Tobacco levy
The tobacco levy chargeable in terms of section 36A of the Taxes Act shall be calculated in respect of—22B. Automated financial transactions tax
The automated financial transactions tax chargeable in terms of section 36B of the Taxes Act shall be calculated at the rate of zero comma zero five United States dollars for each transaction exceeding ten United State dollars on which the tax is payable.[section 22B inserted by Act 13 of 1996 and amended by Act 16 of 2007, s.i 149 of 2008, Act 5 of 2009 and by section 4 of Act 1 of 2018]22C. Presumptive tax
The presumptive tax chargeable in terms of section 36C of the Taxes Act shall be in the case of—22D. Demutualisation levy
The demutualisation levy chargeable in terms of section 36D of the Taxes Act shall be calculated, in respect of each Zimbabwean member of the mutual society concerned, at the rate of two and one-half per centum of the amount upon which the levy is payable in terms of paragraph 2 of the Twenty-Seventh Schedule to the Taxes Act.[section inserted by Act 22 of 1999]22E. Carbon tax
22F. ***
[section repealed by Act 10 of 2009]22G. Intermediated money transfer tax
The intermediated money transfer tax chargeable in terms of section 36G of the Taxes Act shall be calculated at the rate of zero comma zero five United States dollars for each transaction exceeding ten United State dollars on which the tax is payable.[section 22G inserted by Act 15 of 2002 and amended by Act 29 of 2004, Act 5 of 2009 and by section 5 of Act 1 of 2018]22H. NOCZIM debt redemption and strategic reserve levy
The NOCZIM debt redemption and strategic reserve levy chargeable in terms of section 36H of the Taxes Act shall—22I. Property or insurance commission tax
The property or insurance commission tax chargeable in terms of section 36I of the Taxes Act shall be calculated at the rate of twenty per centum of each dollar of the commission from which such tax is to be paid in terms of the Thirty-Second Schedule to that Act.[section inserted by Act 29 of 2004]22J. Tax on non-executive directors’ fees
The tax on non-executive directors’ fees chargeable in terms of section 36J of the Taxes Act shall be calculated at the rate of twenty per centum of each dollar of the fees from which such tax is to be paid in terms of the Thirty-Third Schedule to that Act.[section inserted by Act 12 of 2006]22K. Tax on exercise of share options granted before 1st February, 2009
Notwithstanding paragraph (t) of the definition of “gross income” in section 8(1) of the Taxes Act, where an employee was, before the 1st February, 2009, offered shares pursuant to a share option scheme operated by his or her employer, there shall be charged on the sale of any of those shares after that date a tax of five per centum of each United States dollar on the market value of those shares prevailing on the date of the exercise of the option.[section inserted by Act 5 of 2009]22L. Petroleum importers levy
The petroleum importers levy chargeable in terms of section 36K of the Taxes Act shall be calculated at the rate of 0,04 United States dollars per litre of petroleum product transported by a petroleum importer by road.[section substituted by Act 8 of 2011]22M. Bookmakers tax
The bookmakers tax chargeable in terms of section 36L of the Taxes Act shall be calculated at the rate of three per centum of each dollar of the gross monthly takings of the bookmaker in terms of the Thirty-Sixth Schedule to that Act.[section 22M inserted by section 6 of Act 1 of 2018 with effect from the year of assessment beginning on 1 January 2018, as amended by section 2 of Statutory Instrument 188 of 2018]Part IV – Employeees tax
23. Matters to be regarded by Commissioner in relation to employees tax
The Commissioner, in exercising the powers conferred on him by paragraph 3 of the Thirteenth Schedule to the Taxes Act—Schedule to Chapter I (Section 4)
Credits and rates of income tax
Part I – Credits
[Part I substituted by section 9 of Act 3 of 2009]Section | Nature of credit | Specified amount$ |
10 | Credit for taxpayers over 55 years of age | US$900 |
11 | Blind persons credit | US$900 |
13 | Mentally or physically disabled persons credit | US$900 |
Part II – Rates of Income tax on taxable income
[Part II substituted by of Act 11 of 2014]Section | Level of taxable income | Specifiedpercentage % |
14(2)(a)(i) | Up to US$3 600 | 0 |
14(2)(a)(ii) | US$3 601 to US$18 000 | 20 |
14(2)(a)(iii) | US$18 001 to US $36 000 | 25 |
14(2)(a)(iv) | US$36 001 to US$60 000 | 30 |
14(2)(a)(v) | US$60 001 to US$120 000 | 35 |
14(2)(a)(vi) | US$120 001 to US$180 000 | 40 |
14(2)(a)(vii) | US$180 001 to $240 000 | 45 |
14(2)(a)(viii) | US$240 501 and more. | 50 |
14(2)(b) | Taxable income of individual from trade or investment | 25 |
14(2)(b1) | Taxable income of individual (holding temporary employment permit from employment with a licensed investor having qualifying degree of export-orientation as defined in section 2 of the Taxes Act)[item inserted by Act 3 of 2017] | 15 |
14(2)(c) | Taxable income of company or trust | 25 |
14(2)(d) | Taxable income of pension fund from trade or investment | 15 |
14(2)(e) | Taxable income of licensed investor having qualifying degree of export-orientation as defined in section 2 of the Taxes Act (before the end of the fifth year of its operations as such) | 0 |
Taxable income of licensed investor (after the fifth year of its operations as such)[item substituted by Act 3 of 2017] | 15 | |
14(2)(e1) | Taxable income of power generation project before the end of the fifth year of its operations as such | 0 |
Taxable income of power generation project after the fifth year of its operations as such[item 14(2)(e1) inserted by section 3 of Act 1 of 2018, with effect from the year of assessment beginning on 1 January 2018] | 15 | |
14(2)(f) | Taxable income of holder of special mining lease | 15 |
14(2)(g) | Taxable income of company or trust derived from mining operations | 25 |
14(2)(h) | Taxable income of person engaged in approved BOOT or BOT arrangement: First five years of arrangement | 0 |
Second five years of arrangement | 15 | |
14(2)(i) | Taxable income of industrial park developer (before the fifth year of his or her operations as such) | 0 |
Taxable income of industrial park developer (after the fifth year of his or her operations as such) | 25 | |
14. (2)(j) | Taxable income of operator of a tourist facility in approved tourist development zone(before the fifth year of his or her operation as such) | 0 |
Taxable income of operator of a tourist facility in approved tourist development zone(after the fifth year of his or her operation as such) | Taxable income from manufacturing of a company which exports more than 30% or more of its output but less than 41% | 25 |
14. (3) (a) | Taxable income from manufacturing of a company which exports more than 30% or more of its output but less than 41% | 20 |
14. (3) (b) | Taxable income from manufacturing of a company which exports more than 41% or more of its output but less than 50% | 17 |
14. (3) (c) | Taxable income from manufacturing of a company which exports 51% or more of its output | 5 |
[item 14(3) substituted by Act 11 of 2014] | 15 | |
14. (5) | Dividends from company incorporated outside Zimbabwe | 20 |
[item 14(5) inserted by Act 5 of 2010] | 20 |
Part III
[Part III repealed by of Act 10 of 2009]Chapter II
Stamp duties
24. Interpretation in Chapter II
24A. Payment of certain stamp duties in foreign currency
25. Duties prescribed
Schedule to Chapter II (Section 25)
Stamp duty on instruments and other matters
[Schedule substituted by section 22 of Act 3 of 2009]Item 1. Bonds | ||
US$ | c | |
Any mortgage bond or notarial bond, or any cession or substitution of debtor in respect thereof— | ||
for every $100 or part thereof of the debt secured or to be secured | 0 | 40 |
Item 2. Brokers' note | ||
US$ | c | |
(1) In respect of the purchase of any marketable security—for every $100 or part thereof of the consideration 0 25[item amended by section 10 of Act 5 of 2009] | 0 | 25 |
for every $100 or part thereof of the consideration 0 50[item amended by section 18 of Act 5 of 2009] | 0 | 50 |
[The amendments inserted by Act 5 of 2009 are contradictory. Law Reviser] | ||
(2) In respect of the purchase or sale of any movable property other than a marketable security—for every $100 or part thereof of the consideration | 0 | 10 |
(3) In respect of the purchase or sale of any immovable property | 1 | 00 |
Item 3. Off-market share transfer instruments | ||
US$ | c | |
Any off-market share transfer instrument referred to in section 17A of the principal Act | 2 | 00 |
Item 4. Cheques | ||
US$ | c | |
Any cheque as defined in section 72 of the Bills of Exchange Act [Chapter 14:02] | 0 | 5 |
Item 5. Policies of insurance | ||
US$ | c | |
(1) Any policy or certificate of insurance or renewal thereof or any other document which is in the form of a guarantee, fidelity, security or surety bond and is signed by an insurance company or by any person transacting business on behalf of brokers or underwriters at Lloyd’s (in this paragraph called a policy), where such policy is not otherwise provided for in this Item— | ||
for every dollar or part thereof of the premium payable for the period for which the policy is issued or renewed or, if the policy is not renewable, of each and every premium payable[Item amended by Act 5 of 2009. Underpayment condoned by section 7 of Act 9 of 2015] | 0 | 05 |
Maximum | 100 000 | |
Minimum- | ||
(a) if the policy is not renewable and the period of the policy— | ||
(i) does not exceed 31 days(ii) exceeds 31 days | 02 | 5000 |
(b) if the policy is renewable and the period of the policy or the renewal thereof— | ||
(i) does not exceed 31 days(ii) exceeds 31 days, for every year or part of a year for which the policy is issued or renewed | 02 | 5000 |
(2) Any ticket, coupon, notice, bill or other document purporting to be an insurance or to entitle a person to insurance in the event of death, accident, sickness or the like | 5% of the annual receipts from the sale or issue for valuable consideration of any such documents | |
(3) Any policy or certificate of insurance of any crop in respect of damage or destruction by hail | 5 | 00 |
(4) Any policy or certificate of marine insurance executed outside Zimbabwe, or any renewal thereof | 5 | 00 |
(5) Any interim policy of insurance the currency of which does not exceed four calendar monthsProvided that the duty on any such interim policy shall not exceed that payable upon a final policy covering a like risk. | 3 | 00 |
(6) Any endorsement made after the issue of a policy shall be stamped as a new policy if the effect of such endorsement is— | ||
(a) to substitute some other person for the person insured; or | ||
(b) to substitute some other matter or thing for the matter or thing which is the subject of the policy; or | ||
(c) to increase the amount of the insurance; or | ||
(d) to make a material alteration to the subject matter of the policy:Provided that in the case of a policy such as is described in paragraph (1), duty shall be payable in terms of this paragraph only in respect of any increase in the premium payable in terms of such endorsement. |
Item 6. Registration in the Deeds Registry of the acquisition of immovable property | ||
$ | c | |
(1) For the registration in the Deeds Registry of any acquisition of property- | ||
(a) in respect of so much of the value of the property as does not exceed $5 000—for every $100 or part thereof of the value | 0 | 7 |
(b) in respect of so much of the value of the property as exceeds$5 000 but does not exceed $15 000— | 3 | 00 |
(c) in respect of so much of the value of the property as exceeds $15 000 but does not exceed $100 000for every $100 or part thereof of the value | 5 | 00 |
US$ | c | |
(1) For the registration in the Deeds Registry of any acquisition of property that has been acquired with foreign currency—[Please note: numbering as in original.] | ||
(a) in respect of so much of the value of the property as does not exceed 5 000 United States dollars—for every $100 or part thereof of the value | 1 | 00 |
(b) in respect of so much of the value of the property as exceeds $5 000 but does not exceed 20 000 United States dollars—for every $100 or part thereof of the value | 2 | 00 |
(c) in respect of so much of the value of the property as exceeds $20 000 but does not exceed 100 000 United States dollarsfor every $100 or part thereof of the value | 3 | 00 |
(d) in respect of so much of the value of the property as exceeds 100 000 United States dollars—for every $100 or part thereof of the value | 4 | 00 |
Chapter III
Licences tariff
26. Interpretation in Chapter III
Any expression to which a meaning has been or may be construed as having been assigned in any enactment referred to in section twenty-seven shall, when used in this Chapter, have the same meaning.27. Imposition of fees for certain licences
There shall be charged, levied and collected for the benefit of the Consolidated Revenue Fund the fees set out in the Schedule in respect of the licences therein mentioned, subject to any enactment for the time being in force relating thereto:Provided that, where any such fees are collected by a revenue officer who is not an employee of the State, there may be paid to the employer of that revenue officer in respect of the collection of the fee such administration fee as the Minister responsible for finance may determine, and for that purpose the revenue officer concerned—Schedule to Chapter III (Section 27)
Licence Fees
Licenses issued under miscellaneous Acts | ||||
---|---|---|---|---|
Licence or permit | Yearly licence fee | Fee for licence not requiring renewal and other fees | ||
$ | c | $ | c | |
1. Pool promoter of a pool betting business promoted within Zimbabwe | 100 | 00 | ||
2. Representative of the promoter of a pool betting business promoted outside Zimbabwe | 100 | 00 | ||
3. Copper dealer | 10 | 00 | ||
4. Casino licence, other than a temporary casino licence | 2000 | 00 | ||
5. Temporary casino licence | 500 | 00 |
Chapter IV
Value added tax
28. Interpretation in Chapter IV
29. Rates of value added tax
30. Amendment of rates imposed by Section 29
31. Adjustments of tax
Schedule to Chapter IV (Section 29)
[Schedule substituted by Act 16 of 2004]Part I - General rate of value added tax
Subject to this Schedule, the rate of value added tax in respect of—Part II - Value added tax on betting and gaming
The rate of value added tax in respect of the transactions or receipts mentioned in the first column of the following table shall be that specified in the second column opposite thereto.Any expression to which a meaning has been or may be construed as having been assigned in any enactment mentioned in the table shall, when used in this Part, have the same meaning.Transactions or receipts | Rate of tax |
1. Any bet made at any place other than a racecourse by any person with a bookmaker licensed in terms of the Betting and Totalizator Control Act [Chapter 10:02] on a horse race. | 1. (a) fifteen per centum on the amount payable by the bookmaker to such person in respect of such bet excluding the amount representing the amount staked. |
(b) Fifteen per centum on the amount of the net winnings of such bookmaker in respect of each period of six months commencing on the 1st April and the 1st October each year. | |
2. Any bet made on a horse race at a race-course on a race day by any person with a bookmaker licensed in terms of the Betting and Totalizator Control Act [Chapter 10:02]. | 2. (a) Fifteen per centum on the amount payable by the bookmaker to such person in respect of such bet excluding the amount representing the amount staked. |
(b) Fifteen per centum on the amount of the net winnings of such bookmaker in respect of each period of six months commencing on the 1st April and the 1st October each year | |
3. Any bet made at any place, other than a racecourse on a race day, by any person with a bookmaker licensed in terms of the Betting and Totalizator Control Act [Chapter 10:02] on any sporting event other than a horse race. | 3. (a) Fifteen per centum on the amount payable by the bookmaker to such person in respect of such bet excluding the amount representing the amount staked. |
(b) Fifteen per centum on the amount of the net winnings of such bookmaker in respect of each period of six months commencing on the 1st April and the 1st October each year. | |
4. Any bet or stake made by way of pool betting by any person with a licensed pool promoter or with a licensed representative, licensed in terms of the Pools Control Act [Chapter 10:19]. | 4. Fifteen per centum on the aggregate total bets or stakes in each pool competition. |
5. Any bet made by way of fixed odds betting by any person with a bookmaker licensed in terms of the betting and totalizator control act [Chapter 10:02]. | 5. Fifteen per centum on the aggregate total bets made with such bookmaker in each fixed odds betting competition. |
6. Any bet or stake made by any person through the medium of a totalizator licensed in terms of the Betting and Totalizator Control Act [Chapter 10:02]. | 6. Fifteen per centum on the gross takings of such totalizator. |
7. Gaming revenue received by the holder of a casino licence in terms of the Casino Act [Chapter 10:03] other than a temporary casino licence. | 7. Fifteen per centum of the gaming revenue received in each quarter during the currency of the licence. |
8. Banker’s revenue received by a banker in terms of the Casino Act [Chapter 10:03], other than a banker referred to in item 10. | 8. Fifteen per centum of the banker’s revenue received. |
9. Gaming revenue received by the holder of a temporary casino licence in terms of the Casino Act [Chapter 10:03]. | 9. Fifteen per centum of the gaming revenue received during the validity of the licence. |
10. Banker’s revenue received by a banker in terms of the Casino Act [Chapter 10:03] under an agreement with the holder of a temporary casino licence in terms of that act. | 10. Fifteen per centum of the banker’s revenue received in terms of the agreement with the holder of the temporary casino licence.”. |
Part III - Special rate of value added tax on supply of cellular telecommunications service
[Part inserted by section 20 of Act 2 of 2009]The rate of value added tax in respect of the supply of cellular telecommunications services in the course of furtherance of the supply of such services by a registered operator shall be fifteen per cent per annum.[Part amended by section 27 of Act 3 of 2009]Part IV - Value added withholding tax
The amount of value added withholding tax to be withheld by a value added withholding tax agent in terms of section 50A of the principal Act shall be one-third of the output tax to be paid to a specified operator.[Part IV inserted by Act 2 of 2017 and amended by section 21 of Act 1 of 2018 with effect from 1 January 2018]Chapter V
Betting and gaming tax
[Chapter V repealed by Act 16 of 2004]32. ***
33. ***
Chapter VI
Estate duty
34. Interpretation in Chapter VI
35. Rate of estate duty
For the purposes of section 3 of the principal Act the rate of estate duty shall be as set out in the Schedule.Schedule to Chapter VI (Section 35)
Rate of estate duty
Chapter VII
Mining royalties, duty and fees
[Chapter substituted by Act 10 of 2009]36. Interpretation in Chapter VII
37. Rates of mining royalties, duty and fees
For the purposes of the provisions of the principal Act specified in the Schedule the rates of royalties, duty and fees shall be as therein shown.37A. Collection of mining royalties
Schedule to Chapter VII (Section 37)
Rates of mining royalties, duty and fees
Provision of principal Act | Percentage of gross fair market value of mineral produced | ||
---|---|---|---|
1. Section 245 (Royalties) | |||
Diamonds (but no royalty is payable in respect of diamonds sold to local diamond manufacturers at a discount equivalent to the value of the royalty that would otherwise be payable)[item substituted by Act 11 of 2014 and by section 29(b) of Act 1 of 2018, with effect from 1 January 2018] | 15 | ||
Other precious stones | 10 | ||
Gold produced by small-scale miners[item substituted by Act 1 of 2014] | 3 | ||
Gold produced by other miners who have not realised any increment in their output in the current year of assessment compared to the output as at the end of the preceding year of assessment[item substituted by Act 9 of 2015] | 5 | ||
Gold produced by other miners who have realised any increment in their output in the current year of assessment compared to the output as at the end of the preceding year of assessment (for the purpose of this item, royalty shall be paid at the rate of 5% and the reduction in the rate due to the increment found to have been archived at the end of the current year of assessment shall be offset against the royalty payable for the following year of assessment) 3 (on the incremental or additional output only)[item substituted by Act 9 of 2015] | 53 (on the incremental or additional output only) | ||
Platinum [item amended by Act 9 of 2011 and by section 29(a) of Act 1 of 2018, with effect from 1 April 2017] | 2.5 | ||
Other precious metals | 4 | ||
Base metals | 2 | ||
Industrial metals | 2 | ||
Coalbed methane | 2 | ||
Coal[paragraph 1 substituted by Act 5 of 2010] | 1 | ||
2. Section 275 (Transfer Duty | US$1 for each $100 or part thereof of the consideration. | ||
3. Section 276 (Fee for the registration of hypothecation of mining locations): | |||
(1) Hypothecations passed before Secretary— | |||
Amount secured | |||
Exceeding | but not exceeding | ||
$ | $ | ||
0 | 20 | 0 | 20 |
20 | 40 | 0 | 30 |
40 | 60 | 0 | 50 |
60 | 100 | 0 | 75 |
100 | 200 | 1 | 00 |
200 | 300 | 1 | 50 |
300 | 400 | 2 | 00 |
400 | 600 | 2 | 50 |
600 | 800 | 3 | 00 |
800 | 1000 | 4 | 00 |
1000 | 1200 | 5 | 00 |
1200 | 1400 | 6 | 00 |
1400 | 1600 | 7 | 00 |
1600 | 1800 | 8 | 00 |
1800 | 2000 | 9 | 00 |
and for every additional US$200 or part thereof | 0 | 50 | |
(2) For the registration of every deed of hypothecation | 2 | 00 | |
4. Section 278 (Fee for the registration of options on mining locations) | |||
A primary fee of | 2 | 00 | |
and | |||
(a) where consideration is given, for every $100 or part thereof of the consideration | 1 | 00 | |
(b) where no consideration is given | 2 | 00 | |
5. Section 280 (Fee for the registration of tribute agreements) | 2 | 00 |
Chapter VIII
Capital gains tax
37A. Interpretation in Chapter VIII
38. Rates of capital gains tax
The capital gains tax chargeable in terms of section 6 of the Capital Gains Tax Act [Chapter 23:01], shall be calculated at the rate of twenty United States cents for each United States dollar of the capital gain determined in accordance with the Capital Gains Tax Act [Chapter 23:01]:Provided that, in respect of the sale or disposal of a specified asset that was acquired before the 1st February, 2009, by the person selling or disposing of that asset—39. Rates of capital gains tax withholding tax
The rates of capital gains withholding tax chargeable in terms of Part IIIA of the Capital Gains Tax Act [Chapter 23:01] shall be as follows—37A. Payment of capital gains tax in foreign currency in certain circumstances
[Please note: numbering as in original.]Chapter IX
Customs and excise
[Chapter inserted by Act 8 of 2005]Rate of special excise duty on sales in second-hand motor vehicles
40. Interpretation in Chapter IX
Any word or expression to which a meaning has been assigned in Part XIIA of the Customs and Excise Act [Chapter 23:02] shall bear the same meaning when used in this Chapter.41. Rate of special excise duty
The rate of special excise duty shall be five per centum of the value of second-hand motor vehicle liable for the duty in terms of Part XIIA of the Customs and Excise Act [Chapter 23:02].Chapter X
Rentals and development levies for state land allocated for agricultural purposes
[Chapter substituted by Act 8 of 2015]42. Interpretation in Chapter X
In this Chapter—“Al farm” means a farm held under a permit allocated under the Model Al scheme (villagised, self-contained and three-tier land-use plans with minimum plots of three hectares) described in the Land Reform and Resettlement Programme and Implementation Plan (Phase 2), published in April, 2001 (as re-issued and amended from time to time);“A2 farm” means a farm under a ninety-nine year lease allocated under the Model A2 scheme (the Commercial Farm Settlement Scheme, not exceeding the maximum farm sizes prescribed under Statutory Instrument 419 of 1999 or any other law substituted for the same) described in the Land Reform and Re-settlement Programme and Implementation Plan (Phase 2), published in April, 2001 (as re-issued and amended from time to time);“Gazetted land” means agricultural land acquired pursuant to the land reform programme under section 72(2) of the Constitution of Zimbabwe, 2013;“holder”, in relation to—(a)an offer letter, means the holder of an offer letter who has indicated that he or she has accepted the offer of an A2 farm described in the letter but who is not yet a party to a land settlement lease;(b)a permit, means any person who is a signatory of the permit or any person who, in terms of the Permit Regulations, is entitled to succeed to such signatory as the holder of such a permit;“land settlement lease” means a ninety-nine year lease of a Model A2 farm;“lessee” means the lessee under a land settlement lease;“Minister of Lands” means the Minister of Lands and Rural Resettlement or any other Minister to whom the President may, from time to time, assign the administration of land settlement leases and permits and the issuance of offer letters;“Natural Region” means a Natural Region specified in section 3 of the Rural Land (Farm Sizes) Regulations, 1999, published in Statutory Instrument 419 of 1999, or any other law that may be substituted for those regulations;“offer letter” means a letter issued by or on behalf of the Minister responsible for the Gazetted Land (Consequential Provisions) Act [Chapter 20:28] (No. 8 of 2006) that offers to allocate an A2 farm to the person to whom the letter is addressed;“permit” means a permit to hold any portion of Gazetted land as an Al farm;“Permit Regulations” means the Agricultural Land Settlement (Permit Terms and Conditions) Regulations, 2014 (Statutory Instrument 53 of 2014) or any other law that may he substituted for the same;“quarter” means a period of three months ending on the 31st March, 30th June, 30th September and 31st December in each year;“rental” means a rental payable in terms of this Chapter.43. Rentals payable in respect of Al and A2 farms
44. Development levy payable in respect of Al and A2 farms
44A. Collection of rentals and use of rentals and development levy
44B. Public Assistance to Model A1 and A2 farmers conditional on full payment of rentals and development levies
[heading substituted by section 7(c) of Act 1 of 2018, with effect from 1 January 2018] No—45. ***
[section 45 repealed and substituted as section 44A by section 7(b) of Act 1 of 2018, with effect from 1 January 2018][Chapter X (sections 42–46 substituted by Act 8 of 2015. Sections 45 and 46 should have been numbered 44A and 44B to avoid duplication with sections 45 and 46 under Chapter X]Schedule to Chapter X (Sections 43 and 44)
[Schedule substituted by Act 8 of 2015]Rentals and development levies payable
Natural Regions | Rentals and Development Levy |
1, 2, 2a, 2b, 3, 4 and 5 | Model A1 Farmers; $10 per annum (rental)Model A2 Farmers: $3 per hectare per annum (rental)Model A1 Farmers; $5 per annum (development levy)Model A2 Farmers: $2 per hectare per annum (development levy) |
Chapter XI
Statutory fees and charges
[Chapter inserted by section 11 of Act 3 of 2009]45. Interpretation in Chapter X
[Please note: numbering as in original.]In this Chapter—“charging enactment” means an enactment by or under which a statutory fee or charge is levied;“Exchange Control (General) Order” means the Exchange Control (General) Order, 1996, published in Statutory Instrument 110 of 1996, or any other enactment that may be substituted for the same;“foreign currency” means the euro, British pound, United States dollar, South African rand, Botswana pula and any other foreign currency denominated under the Exchange Control (General) Order;“Minister” means the Minister responsible for finance;“port of entry” means a port of entry designated as such in terms of section 14 of the Customs and Excise Act [Chapter 23:02];[definition inserted by Act 11 of 2014]“statutory fee or charge” means a fee or charge levied by or under a charging enactment for any service provided by the Government or a department of the Government, whether such fee or charge is notified by means of a statutory instrument or otherwise.46. Revision of statutory fees and charges initiated by minister
[Please note: numbering as in original.]47. Revision of statutory fees and charges initiated by heads of ministries
The Head of a Ministry responsible for any charging enactment may at any time request the Minister to initiate a review of the relevant statutory fee or charge, and section 46 shall, with such changes as may be necessary, apply to a review thus initiated.[Chapter XI (section 45–47) inserted by section 11 of Act 3 of 2009]48. Electronic Single Window Facility
Chapter XII
Special excise duty on airtime and Health Fund Levy
[Chapter XII substituted by Act 2 of 2017]48. Interpretation in Chapter XII
[Please note: numbering as in original.]Any word or expression to which a meaning has been assigned in Part XIIB of the Customs and Excise Act [Chapter 23:02] shall bear the same meaning when used in this Chapter.49. Rate of special excise duty on airtime
History of this document
26 April 2024 amendment not yet applied
31 December 2021 amendment not yet applied
Amended by
Finance Act, 2021
31 December 2020 amendment not yet applied
Amended by
Finance (No. 2) Act, 2020
28 October 2020 amendment not yet applied
Amended by
Finance Act, 2020
31 December 2019 amendment not yet applied
Amended by
Finance (No. 3) Act, 2019
21 August 2019 amendment not yet applied
Amended by
Finance (No. 2) Act, 2019
20 February 2019 amendment not yet applied
Amended by
Finance Act, 2019
14 March 2018 this version
Amended by
Finance Act, 2018
Commenced
23 March 2017
01 April 1988
Commenced
01 August 1981
Commenced
06 September 1968
Commenced
01 February 1968
Commenced
01 April 1967
Commenced
23 February 1966
Commenced
05 July 1965
Commenced
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Subsidiary legislation
Title | Numbered title |
---|---|
Finance (Amendment of Section 14(2)(a) and Schedule to Chapter I of Finance Act) Regulations, 2024 | Statutory Instrument 74 of 2024 |