Zambia - Corporate - Taxes on corporate income.
Zambia Corporate - Withholding taxes Last reviewed - 14 February 2020. Payments of the following items of Zambian-source income may be subject to WHT. The relevant rates under domestic legislation are as follows:. PwC Zambia. Tax services and publications. Zambia's 2018 National Budget. Download the bulletin. Zambia Global Mobility Guide.
Consequently, Zambian residents will also be subject to income tax on interest and dividends from a source outside Zambia. A non-Zambian resident enterprise that has a permanent establishment (PE) in Zambia will be subject to corporate income tax (CIT) on its Zambian-source income.
It is important to note that the property from whose rentals the Withholding Tax is deducted must be situated in Zambia. The rate of Withholding Tax is 10%. The payer (tenant) is responsible for deducting Withholding Tax from gross rentals on the date of accrual of any amount due to the payee (landlord).
All about Income Tax Rates in Zambia, Income Tax and Salaries, Income Tax and Wages, Income Tax and Deductions and more on Mywage Zambia. Income tax is a tax paid or levied on personal income. It’s the money that is paid to the government by workers and self-employed individuals who generate an income either through a salary, saving or pension.
ZambiaInvest explains the fiscal framework in place in Zambia, from corporate tax and income tax, capital gain tax, transfer pricing and thin capitalisation rules, double tax treaties in place and other taxes in Zambia. Tax is levied on a source or deemed source basis. Residents are taxed on domestic-source income and certain types of foreign.
THE Zambia Revenue Authority (ZRA) says that Withholding Tax (WHT) on rental income is not a new tax and that it was introduced in the 1970s. In a statement ZRA commissioner general Berlin Msiska.
Multinational organisations operating in Africa face significant tax exposure and risks in the form of withholding taxes. “Multinationals considering doing business on the continent need to consider the potential tax treatment of their transactions upfront,” says Elandre Brandt, an International Tax Partner at PwC and Head of the Africa Tax Desk based in Johannesburg.
Withholding Tax. Withholding tax (WHT) is in other terms known as retention tax. Retention tax is an income tax that is to be paid to the government through a tax collection agency, in this instance the Zambia Revenue Authority (ZRA).
COVID-19 Legal Resources are available on ZambiaLII here. Income Tax (Withholding Tax) (Exemption) Regulations, 2006. Date of assent.
Zambia: Corporate Tax 2020. The ICLG to: Corporate Tax Laws and Regulations - Zambia covers common issues in corporate tax laws and regulations - including capital gain, overseas profits, real estate, anti-avoidance, BEPS and the digital economy - in 33 jurisdictions.
The Personal Income Tax Rate in Zambia stands at 37.50 percent. Personal Income Tax Rate in Zambia averaged 35.83 percent from 2013 until 2018, reaching an all time high of 37.50 percent in 2017 and a record low of 35 percent in 2014. This page provides - Zambia Personal Income Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
The Sales Tax Rate in Zambia stands at 16 percent. Sales Tax Rate in Zambia averaged 16.21 percent from 2006 until 2019, reaching an all time high of 17.50 percent in 2007 and a record low of 16 percent in 2008. This page provides - Zambia Sales Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
The Commissioner General may, on application, issue a Withholding tax exemption certificate, in the form set out in the Third Schedule to the regulation regarding Withholding tax to any person who has met all of the following conditions (other than a person who is tax exempt): The applicant has timely filed a return of income which is due.
