Non-resident couple's rental income1		US$1,500	US$6,000	US$12,000
Monthly Rental Income2		1,500	6,000	12,000
Annual Rental Income		18,000	72,000	144,000
Less Expenses 3	25%	4,500	18,000	36,000
= Taxable Income		13,500	54,000	108,000
Income Tax4
Up to ZMW 39,600	0%	-	-	-
ZMW39,600 - ZMW 49,200	25%	240	240	240
ZMW49,200 - ZMW 74,400	30%	756	756	756
Over ZMW 74,400	37.50%	2,273	17,460	37,710
Annual Income Tax Due		3,269	18,456	38,706
Other Tax
Withholding Tax 5	10%	1,800	7,200	14,400
Tax Due as % of Gross Income		18.16%	25.63%	26.88%

Notes

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1 The property is jointly owned by husband and wife.

2 Exchange rate used: 1.00 USD = 10.00 ZMW

3 Estimated values. Income-generating expenses are deductible when calculating taxable income.

4 Rental income earned by nonresident individuals is taxed at progressive rates.

5 A withholding tax of 10% applies on rental income earned by nonresidents, to be withheld by the tenant. The withholding tax is set against the final income tax liability.