Zambia

Overview

Last reviewed - 14 February 2020

The Republic of Zambia is a presidential democracy located in Southern Africa. The capital city is Lusaka, and the country is divided into ten provinces and has over 100 districts. Zambia’s official language is English, and its currency is the kwacha (ZMW).

Zambia’s largest economic sector is mining, principally copper extraction. 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. Economic growth is expected to be 3% in 2020.

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 150 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 (%) 35
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 NA
Value-added tax (VAT) rates
Standard VAT rate (%) 16
Withholding tax (WHT) rates
WHT rates (%) (Div/Int/Roy) Resident: 15 / 15 / 15;
Non-resident: 20 / 20 / 20
Capital gains tax (CGT) rates
Corporate capital gains tax rate (%) NA
Individual capital gains tax rate (%) NA
Net wealth/worth tax rates
Headline net wealth/worth tax rate (%) NA
Inheritance and gift tax rates
Inheritance tax rate (%) NA
Gift tax rate (%) NA

NA stands for Not Applicable (i.e. the territory does not have the indicated tax or requirement)

NP stands for Not Provided (i.e. the information is not currently provided in this chart)

All information in this chart is up to date as of the 'Last reviewed' date on the corresponding territory Overview page. This chart has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this chart, and, to the extent permitted by law, PwC does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.