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Capital Gains Tax (CGT) is levied on the capital gain arising from the disposal of a specified asset. Whether with title deeds or without
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Amounts received or accrued on the realization or distribution of a deceased estate of a specified asset forming part of such estate are exempt.
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A Donation is a deemed sale and therefore CGT is payable on the amount which in the Commissioner’s opinion is equal to the fair market price of such an asset.
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A sale on credit is a deemed sale which attracts Capital Gains Tax on the gross capital amount.
The gross capital amount shall be the whole amount accruing as a result of the sale including instalments not yet due and payable in terms of the Agreement.
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Once a return fails to commit, please print the failed return from the portal and send it to ZIMRA for assessment. Usually in this case further efforts to retry do not become successful.