Zimbabwe Stock Exchange dealing charges from 11 January

New dealing charges for the Zimbabwe Stock Exchange came into effect on 11 January 2010, a week ago. Contrary to earlier expectations, it appears that Capital Gains Witholding Tax has not been withdrawn on sales proceeds of marketable securities. According a helpful note from stockbroker Securities Africa (www.securitiesafrica.com), the charges are:
BUY SELL
Brokerage 1.00% 1.00%
SEC Levy 0.18% 0.18%
Investor Protection Levy 0.05% 0.05%
ZSE Levy 0.10% 0.10%
Stamp Duty 0.25% –
Capital Gains Withholding Tax – 1.00%
VAT @ 15% of Brokerage 0.15% 0.15%
Total 1.73% 2.48%
Total Both Sides 4.21%

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