Exemptions

Section 14(1) of the Income Tax Act Chapter 23:06 as read with 3rd Schedule sets out the
receipts and accruals, which are exempt from tax.

Paragraph 1 exempts receipts of statutory corporations such as the Reserve Bank of Zimbabwe,
local authorities and POSB

Paragraph 2 exempts agricultural, mining and commercial societies not operating for the profit of
the members, approved benefit funds, pension funds, building societies, friendly societies and
medical aid societies. Religious, Charitable and Educational Institutions of a public character and
Trusts of a public character, Trade Unions Employees saving schemes

Exemptions according to nature of income

Paragraph 4 exempts

Salary and emoluments

paid in respect of the Presidents office and a member of staff of the President if the
President pays such salary and emoluments
paid in respect of the president

Allowances
payable to a spouse of the President or a Vice-President in respect of duties the spouse
performs for or on behalf of the State
Allowances granted to Senior Government Officials, Minister, Deputy Minister,
Provincial Governor, the Speaker and Deputy Speaker.
Allowances or value of any benefit, which is granted to any person in full time
employment of the State as specified in a Statutory Instrument e.g. housing and transport
allowances.
Allowances payable to a Chief or Headman in his capacity as headman