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Zambia
Overview
Last reviewed - 01 June 2022The Republic of Zambia is a sovereign Republic under a constitutional form of governance located in Southern Africa with a president as the head of state. The capital city is Lusaka, and the country is divided into ten provinces and has over 116 districts. Zambia’s official language is English, and its currency is the kwacha (ZMW).
Zambia’s largest economic sector is mining, principally driven by copper mining and processing. Other significant sectors include agriculture and tourism. Over the last decade, Zambia sustained a favourable rate of economic growth, which averaged 7.4% between 2005 and 2014. The country expects a relatively slower economic growth of 3.5%, 3.9%, and 3.9% in the years 2022, 2023, and 2024, respectively, as it is recovering from the adverse impact of the pandemic.
Zambia is a member of a number of international organisations, including the United Nations (UN), the African Union, the South African Development Community (SADC), the Common Market for Eastern and Southern Africa (COMESA), and the Commonwealth of Nations.
PwC Zambia has over 180 professional staff working in the assurance, advisory, and tax lines of service. The tax practice offers a full range of tax services covering all Zambian taxes, with particular focus on inbound investment, including in the mining, banking, consumer and industrial products, and services sectors.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
30 (35% in prior year) |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
21 June following the end of the tax year for online submissions. 5 June for manual submissions. |
| CIT final payment due date |
21 June following the end of the tax year. |
| CIT estimated payment due dates |
Four instalments by 10 April, 10 July, 10 October, and 10 January. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
37.5 |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
21 June |
| PIT final payment due date |
21 June |
| PIT estimated payment due dates |
Four instalments by 31 March, 30 June, 30 September, and 31 December. |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
16 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Resident: 15 / 15 / 15 Non-resident: 20 / 20 / 20 |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
NA |
| Headline individual capital gains tax rate (%) |
NA |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
NA |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
NA |
| Headline gift tax rate (%) |
NA |
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