Income tax in Zimbabwe
May 11, 2018
Nonresidents are taxed on their income from Zimbabwe sources. Married couples are taxed separately.
Income is taxed at progressive rates.
INCOME TAX 2018
|TAXABLE INCOME, US$|
|Up to US$3,600||0%|
|US$3,600 - US$18,000||20%|
|US$18,000 - US$36,000||25%|
|US$36,000 - US$60,000||30%|
|US$60,000 - US$120,000||35%|
|US$120,000 - US$180,000||40%|
|US$180,000 - US$240,000||45%|
|Source: Global Property Guide|
Rental income is taxed at the standard income tax rates.
Capital gains are treated as ordinary income and taxed at the standard income tax rates.
For taxpayers over 55 years of age, they do not have to pay taxes on capital gains realized from the sale of their primary residence.
There are no property taxes in Zimbabwe.
Income and capital gains earned by companies are taxed at a flat rate of 25%. Income-generating expenses are deductible when calculating taxable income.