Tax on property income in Zimbabwe

May 11, 2018

INDIVIDUAL TAXATION

Nonresidents are taxed on their income from Zimbabwe sources. Married couples are taxed separately.

INCOME TAX

Taxable income includes: (1) employment income, (2) income from trade or business, and (3) investment income. Income is taxed at progressive rates.

INCOME TAX 2018

TAXABLE INCOME, US$
TAX RATE
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.

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