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Finance Act, 2011 (Act 9/2011)
December 31, 2011
Gazetted and into force on 31st December 2011

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Finance Act, 2011 (Act 9/2011)

ACT

To make further provision for the revenues and public funds of Zimbabwe and to provide for matters connected therewith or incidental thereto.

ENACTED by the President and Parliament of Zimbabwe.

PART I PRELIMINARY

1. Short title

This Act may be cited as the Finance (No. 2) Act, 2011.

PART II INCOME TAX

Amendments to Chapter I of Finance Act [Chapter 23:04]

2. Amendment of section 14 of Cap. 23:04

Section 14 ("Income tax for periods of assessment after 1.1.10") (2) of the Finance Act [Chapter 23:04] is amended-
(a) by the deletion of "the 1st January 2010, or any subsequent year of assessment" and the substitution of "the 1st January 2012, or any subsequent year of assessment";

(b) by the repeal of paragraph (a) and the substitution of-

"(a) in the case of a person other than a company, a trust or a pension fund, at the specified percentage of each dollar of each of the following parts of his or her taxable income from employment-

(i) so much as does not exceed three thousand United States dollars;

(ii) so much as exceeds three thousand United States dollars but does not exceed twelve thousand United States dollars;

(iii) so much as exceeds twelve thousand United States dollars but does not exceed twenty-four thousand United States dollars;

(iv) so much as exceeds twenty-four thousand United States dollars but does not exceed sixty thousand United States dollars;

(v) so much as exceeds sixty thousand United States dollars but does not exceed ninety thousand United States dollars;

(vi) so much as exceeds ninety thousand United States dollars but does not exceed one hundred and twenty thousand United States dollars;

(vii) so much as exceeds one hundred and twenty thousand United States dollars;".

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