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(No. 2) Act, 2012
Act No. 6 of
Gazetted: Friday 28th December 2012.
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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.
1 Short title
This Act may be cited as the Finance (No. 2) Act, 2012.
Amendments to Chapter I of Finance Act [Chapter 23:04]
2 Amendment of section 22 of Cap. 23:04
With effect from the year of assessment beginning on the 1st January,
2013, section 22 of the Finance Act [Chapter 23:04] is repealed
and the following is substituted-
“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 -
(a) five per centum of each dollar of the interest from which
such tax is to be withheld and paid in terms of the Twenty-First
Schedule to the Income Tax Act, in the case where the interest
is earned on a fixed-term deposit with a tenure of at least ninety
(b) fifteen per centum of each dollar of the interest from such
tax is to be withheld and paid in terms of Twenty-First Schedule
to the Income Tax Act, in every other case.”.
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