Capital Gains Tax (CGT) is a tax levied on the capital gain arising from the disposal of a specified asset.

Specified Asset means:

  1. Immovable property or
  2. Any marketable security or
  3. Any right or title to property whether tangible or intangible that is registered or required to be registered.


With effect from 1 January 2017 the definition of specified assets now includes the following any right or title to tangible or intangible property registered or required to be registered in terms of

  1. Mines and Minerals Act
  2. Patents Act
  3. Trade Marks Act
  4. Industrial Designs Act
  5. Copyright and Neighbouring Rights Act
  6. Geographical Indications Act
  7. Integrated Circuit Layout Designs Act

Who is Liable to pay or remit Capital Gains Tax?

  1. The Seller
  2. A Depositary


NB: Where the capital gain is received in Zimbabwe dollars, the capital gains tax shall be payable in ZWL. Also note that where the capital gain is received in whole or in part in foreign currency the tax due shall be determined proportionate to the capital gain and shall be paid in the respective currency of the gains.


Capital Gains Tax Exemptions  

    There are disposals under which Capital Gains Tax is not chargeable and these include:

  • The sale of immovable property previously used for the purposes trade if the Commissioner is satisfied that the amount equal to or part of the consideration received or accrued is used to purchase or construct immovable property to be used for the purposes of his trade before the end of the next year of assessment.
  • Transfers of any specified assets between spouses.
  • Transfer of principal private residence between former spouses in pursuit of a divorce order
  • Transfer/disposal of a specified asset by a deceased estate
  • Transfer/disposal of a principal private residence by an individual who is of or above the age of 55 as at date of sale/transfer.
  • Disposal of a principal private residence by an individual where all the sale proceeds are used to acquire/construct a new principal private residence.
  • Transfer of business property used for the purposes of trade by an individual to a company under his/her control where such company will continue to use the property for the purposes of trade.
  • Donation of housing units to a local authority, approved employee share ownership trust or community share ownership trust or scheme.

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This article was compiled by the Zimbabwe Revenue Authority for information purposes only. ZIMRA shall not accept responsibility for loss or damage arising from use of material in this article and no liability will attach to the Zimbabwe Revenue Authority.