Income tax in Zambia

May 09, 2018

INDIVIDUAL TAXATION

Residents are taxed on their Zambian-sourced income. Married couples are taxed separately.

INCOME TAX

Taxable income includes: (1) business income, (2) employment income, (3) annuities, (4) interest, (4) royalties, and (5) property income. Income is taxed at progressive rates. The tax bands are adjusted annually.

INCOME TAX 2016

TAXABLE INCOME, ZMK (US$)
TAX RATE
Up to 36,000 (US$3,600) 0%
36,000 - 45,600 (US$4,560) 25%
45,600 - 70,800 (US$7,080) 30%
Over 70,800 (US$7,080) 35%
Source: Global Property Guide

INCOME TAX 2017

TAXABLE INCOME, ZMK (US$)
TAX RATE
Up to 39,600 (US$3,960) 0%
39,600 - 49,200 (US$4,920) 25%
49,200 - 74,400 (US$7,440) 30%
Over 74,400 (US$7,440) 37.50%
Source: Global Property Guide

RENTAL INCOME
Rental income is taxed at the standard income tax rates.

CAPITAL GAINS
Capital gains are taxed at the standard income tax rates. Taxable capital gains are calculated by deducting acquisition costs and related expenses from the market value of the property or the selling price.

PROPERTY TAXATION

There are no property taxes in Zambia.

CORPORATE TAXATION

INCOME TAX

Income and capital gains earned by general companies are taxed at a flat rate of 35%. Income-generating expenses are deductible when calculating taxable income.

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