Zimra and Taxes

Capital Gains Tax and Zimra Interviews

In order for a property to be transferred from a seller to a buyer, the seller and buyer have to attend a ZIMRA Interview to obtain a Capital Gains Tax Clearance.

Zimra Interview

• Held at Kurima House, Nelson Mandela Avenue
• The Estate Agent will arrange an interview time for buyer and seller to meet at ZIMRA Office.
• The Estate Agent will have all your necessary documents and copies for the ZIMRA Official.
• NB All names on the Title Deed have to attend this interview and produce their original IDs plus photocopy. The Seller must also produce 2 x utility bills.

Capital Gains Tax

• The Finance Act of 2009 states that CGT levied on the gain arising from disposal of immovable property etc. will calculated at 20% of the gain.
• A property bought before February 2009 will pay CGT of 5% of the selling price.
• No CGT is charged when a seller spends all the proceeds from the sale of the principal residence on buying a new principal primary residence.
• A person aged 55 or above is not charged CGT on selling a principal primary residence.

ZIMRA WEBSITE: www.zimra.co.zw