Gazetted 16th December 2022

THE Minister of Finance and Economic Development, in terms of section 26 of the Capital Gains Tax Act [Chapter 23:01], hereby makes the following notice:—
1. (1) This notice may be cited as the Capital Gains Tax (Rate of Interest) Notice, 2021.
(2) This notice shall be effective from 1st December, 2022.
Rate of interest on unpaid or overpaid capital gains tax
2. (1) Subject to subsection (2), the rate of interest for any month or part thereof during which tax remains unpaid or overpaid shall, for the purposes of sections 26 and 221 of the Act, be two hundred per centum per annum as revised from time to time to align with and be the same as the bank policy rate for unpaid or overpaid tax in Zimbabwe dollars and ten per centum for unpaid or overpaid tax in foreign currency.