Zimbabwe personal income tax rate 20042020 data 2021. The main laws for revenue collection in zimbabwe include the income tax act, capital gains act, the finance act, the estate duties act and the customs and excise act. Textbook explaining corporate and individual income tax in zimbabwe, including withholding taxes, capital gains tax and estate duty. By a company listed on the zimbabwe stock exchange 10 by any other company 15 informal traders 10 foreign dividends 20 nonresidents tax %. Special circumstances in which income is deemed to.
Interpretation in this act, unless the context otherwise requires. Click download or read online button to get zimbabwe income tax book now. We are the leading resource for freely available legislation in south africa and are used daily by thousands of professionals and industry leaders. Finance rate and incidence of intermediated money transfer tax regulations, 2018. The tax year in zimbabwe runs from 1 january to 31 december. The personal income tax rate in zimbabwe stands at 24. Certain types of income arising outside zimbabwe may, in the hands of a zimbabwean tax resident, be deemed to arise in zimbabwe and be. To acquire expert knowledge of practical and procedural aspects relating to direct tax laws, service tax and vat. What are the current income tax rates for residents and non residents in zimbabwe. The consolidated income tax act is available, in a pdf version, under the tax heading on the university of pretoria, laws of. Annually updated handbook on the tax laws and regulations in zimbabwe including the income tax act, plus basic information on starting a business. Income tax act 90 of 1988 income tax amendment act 99 of 1988 income tax act 70 of 1989. The administration of income tax is governed by the income tax act of zimbabwe, chapter 23. Basics and definitions income tax act, 1961 background, concept and mechanism of income tax definitions, concept of income, previous year, assessment year, distinction between capital and revenue receipts and expenditure, residential status basis of charge and scope of total income 2.
If its any comfort the capital gains tax existed well before the 2% tax and is quite a different tax. Other changes to the income tax act include the following. An act to establish the zimbabwe revenue authority for the collection of certain revenues of the. Did you know that in terms of section 80 of the income tax act chapter 23. This site is like a library, use search box in the widget to get ebook that you want. The new minister of finance issued a number of proposals to the income tax act chapter 23. Students are permitted to take in their zxnet amended zimbabwe taxation statutes provided, of course, that no notes or commentaries are included. To make further provision for the revenues and public funds of zimbabwe and to provide for matters connected therewith or incidental thereto. These regulations may be cited as the double taxation agreement. The income tax department never asks for your pin numbers, passwords or similar access information for credit cards, banks or other financial accounts through email the income tax department appeals to taxpayers not to respond to such emails and not to share information relating to their credit card, bank and other financial accounts. Zimbabwe reintroduces the zim dollar zimbabwe hikes. Income tax act 58 of 1962 south african government.
Section amendments to chapter i of finance act chapter 23. Click download or read online button to get income tax in zimbabwe book now. Part i preliminary 1 short title this act may be cited as the finance no. Special provisions in connection with income derived from sale of mining claims. This page provides zimbabwe personal income tax rate actual values, historical data, forecast, chart, statistics, economic calendar and news. Zimbabwe amendments to the income tax act and introduction of. Income tax in zimbabwe download ebook pdf, epub, tuebl, mobi. It is administered under income tax act ita cap 52. Therefore all income that accrues or is deemed to have accrued in zimbabwe is taxed in zimbabwe.
International taxation double taxation avoidance agreements. Home income tax service tax vat central excise online forms bare acts companies act cpc crpc ipc formats. The book is useful for students and serves as a basic guide to those interested in taxation. With acts you are guaranteed the latest and most up to date resource for your legislative needs. Short title this act may be cited as the income tax act. An act to make provision for the revenues and public funds of zimbabwe and to provide for matters connected therewith or incidental thereto.
Definition as inserted by section 2 of act 17 of 2002. All air prevention and control of pollution act, 1981 apprentices act, 1961 arbitration and conciliation act, 1996 banking cash transaction tax black money undisclosed foreign income and assets and imposition of tax act, 2015 central boards of revenue act, 1963 charitable and religious trusts act, 1920 charitable endowments act, 1890. Income tax, revenue, amnesty, special circumstances. Understanding zimbabwe capital gains tax startupbiz zimbabwe. Finance act, 2017 act 22017 to make further provision for the revenues and public funds of zimbabwe and to provide for matters connected therewith or incidental thereto. An act to provide for the taxation of incomes and matters connected therewith. Zimbabwe individual income tax rate table and zimbabwe corporate income tax tds vat table provides a view of individual income tax rates and corporate income tax rates in zimbabwe. These regulations, made by the minister of finance in terms of section 3.
Bonus section 1b of the finance act confirms that the tax free bonus has increased to zwl5 000 usd320. Zimbabwe income tax download ebook pdf, epub, tuebl, mobi. Aids levy equal to 3% of the basic tax also payable. Part i preliminary 1 short title this act may he cited as the finance act, 20 4. Zimbabwe income tax kpmg global kpmg international.
The reprint consolidates the income tax act, cap 340, the value added tax act, cap 349 and statutory instruments made thereunder since the revised edition of the laws of uganda 2000. It is source based, this means that tax is levied on income generated or deemed to be generated in botswana. Provided further that in respect of any income chargeable to tax under section 115a, 115ab, 115ac, 115aca, 115ad, 115b, 115ba, 115bb, 115bba, 115bbc, 115bbd, 115bbda, 115bbf, 115bbg, 115e, 115jb or 115jc of the income tax act, the amount of income tax computed under this subsection shall be increased by a surcharge, for the. Capital gains tax cgt cgt is levied on taxable gains from a source within zim from the sale or deemed saleof immovable property and any marketable security specified asset according to the capital gains tax act. Taxed on income from a zimbabwean source or from a deemed zimbabwean source. Income tax is levied on earnings income of an individual or a business. Provisions of agreements and regulations to prevail when inconsistent with this act or any other law. The tax rates and legislation in this reckoner are applicable from 1 january 2016 to 31 december 2016.
Zimbabwe amendments to the income tax act and introduction of new transfer pricing regulations. Candidates may take into the examination room an unmarked copy of the income tax act as amended and of the finance act and the capital gains tax act. Income tax is a direct tax that is levied on persons income and gains for each tax year. Zimbabwe personal income tax rate 20042020 data 20212022. Income tax and vat acts online the income tax act, 1962, valueadded tax act, 1991 and other tax acts may be accessed on the sars website. Domestic tax laws uganda 1 disclaimer this reproduction of ugandas tax legislation is the personal effort of. An act to consolidate and amend the law relating to the imposition, assessment and collection of tax on incomes. Car benefit section 8 of the finance act confirms the new motoring benefit values as tabulated below. A satellite broadcasting service provider or any person who delivers goods or services through an electronic commerce platform in receipt of.
Practitioners act, estate agents act and estate administration act. President may suspend, rebate or remit duties payable under agreement. Temporary exemption of manufacturers of wine from fruit grown in zimbabwe and manufacturers of opaque beer. Microsoft office document icon income tax act 2306updated. After the introduction of what is now commonly referred to as the 2% tax, many in zimbabwe do not want to hear about another tax, ever. A survey of income tax, social security tax rates and tax legislation.