Income tax in Zimbabwe
May 11, 2018
INDIVIDUAL TAXATION
Nonresidents are taxed on their income from Zimbabwe sources. Married couples are taxed separately.
INCOME TAX
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% | |
| Over US$240,000 | 50% | |
| Source: Global Property Guide | ||
RENTAL INCOME
Rental income is taxed at the standard income tax rates.
CAPITAL GAINS
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.
PROPERTY TAXATION
There are no property taxes in Zimbabwe.
CORPORATE TAXATION
INCOME TAX
Income and capital gains earned by companies are taxed at a flat rate of 25%. Income-generating expenses are deductible when calculating taxable income.
Comments
Be the first to comment on this article!
Login or Register to submit a comment!
In order to promote open and spam-free conversations, Global Property Guide moderates commetns on all articles. You can expect that your comment will be published within 24 hours.