Income Tax (Transitional Period Provisions) Act
- Commenced on 1 April 1965
- [This is the version of this document at 31 December 2016 and includes any amendments published up to 31 December 2017.]
- [Note: This version of the Act was revised and consolidated by the Law Development Commission of Zimbabwe]
1. Short titleThis Act may be cited as the Income Tax (Transitional Period Provisions) Act [Chapter 23:07].
2. Interpretation and application of Act No. 16 of 1954
3. Establishment and determination of creditThere shall be established in respect of every taxpayer a credit determined—
4. Apportionment of credit between remuneration credit and non-remuneration credit
5. Application of remuneration credit to tax payableNotwithstanding sections 6, 7 and 65 of the Taxes Act, and subject to subsection (1) of section seven and subsection (1) of section eight, the tax with which a taxpayer is chargeable in respect of the transitional period shall be reduced by the amount of any remuneration credit determined under the provisions of subsection (2) of section four.
6. Application of set-off of non-remuneration credit
7. Taxpayers to whom sections 5 and 6 shall not apply
8. Adjustment of credit allowed under section 5
9. Transactions, operations or schemes reducing the amount of taxWhere any transaction, operation or scheme has, whether before, on or after the 1st April, 1965, been entered into or carried out which has the effect of reducing the amount of tax payable in respect of the transitional period or any other year of assessment and which, in the opinion of the Commissioner—
10. Objections and appealsA taxpayer who is aggrieved by a decision of the Commissioner made in terms of the definition of “retire” in subsection (1) of section two, the proviso to paragraph (b) of section three or section nine, shall be entitled to object to such decision, and section 55 of the Taxes Act shall apply, mutatis mutandis, to such objection, and if the taxpayer is dissatisfied with the decision of the Commissioner on such objection, he may appeal therefrom and sections 65, 66 and 67 of the Income Tax Act [Chapter 23:06] shall apply, mutatis mutandis, to any such appeal:Provided that in any proceedings relating to an objection or appeal arising out of a decision of the Commissioner made in terms of—
11. Set-off or payment in terms of section 5 or 6 to be a drawbackAny set-off against tax payable or any amount paid to a taxpayer as a result of such a set-off in terms of section five or six shall be regarded as a drawback and shall be made from moneys received in terms of the Taxes Act or the Income Tax Act [Chapter 23:06].
History of this document
01 April 1965