Zimbabwe Stock Exchange introduces new capital gains withholding tax
TLDR
- ZSE introduces 2% capital gains withholding tax on investment profits from June 28.
- Tax applies to profits from selling investments like stocks and real estate, withheld by payers before final payment to investors.
- Change expected to impact investors and market performance in Zimbabwe.
The Zimbabwe Stock Exchange Limited (ZSE) has announced the introduction of a 2% capital gains withholding tax, effective from June 28.
This tax is applied to the profit made from selling investments, such as stocks or real estate, and is withheld by the payer, such as a brokerage, before paying the remaining amount to the investor.
This change is expected to have significant implications for investors and market participants, potentially impacting the overall performance of the stock market in Zimbabwe.
Key Takeaways
On Monday, a total of 4,430,700 shares were traded on the ZSE, corresponding to a market value of ZiG 3,806,390.73. Compared to the previous trading day (Friday, July 5), today's data shows a 34% improvement in volume but an 83% decline in turnover. The current market capitalization of the ZSE stands at ZiG 45.8 billion. Regarding the performance of ZSE market indices, the benchmark ZSE All Share Index (ZSE-ASI) soared by 3.95 points (2.68%) to close at 151.18. This represents a 1-week gain of 15.18%, a 4-week gain of 42.87%, but an overall year-to-date loss of 99.93%.
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