Tax-free remuneration prohibition bars compensation schemes that offset an employee's income tax or vary with tax liability. Companies are prohibited from paying officers or employees compensation free of income tax or otherwise calculated by reference to the tax payable by the recipient, including gross-up schemes; 'tax' includes income tax and super-tax. Pre-existing provisions in force at commencement remain effective only for the remainder of the incumbent's term but must be treated as a gross sum subject to tax so that the net specified amount is produced after tax. The section excludes remuneration due before commencement and remuneration due after commencement for periods before commencement.