tax

Are you a landlord in Zambia? It's crucial to understand your tax obligations when it comes to rental income. Rental income is subject to taxation in Zambia, and compliance is essential to avoid penalties. In this comprehensive guide, we'll walk you through everything you need to know about rental income tax in Zambia. Understanding Rental Income Tax in Zambia: Rental income tax refers to the tax...

Recently the Zambia Revenue Authority (ZRA), officially announced and clarified the applicable changes to tax on rental income following the adoption of the 2022 National Budget by Parliament in late December 2021. The announcement on the 12th of January by the ZRA was followed by a number of well-planned informational sessions including a Facebook Live presentation and a Zoom webinar among others. This short article is a summary of these comprehensive informational sessions to serve as a short guide...

Money Management Strategies For Those Working Overseas Managing your finances while living abroad can be challenging. Overseas workers often find their personal wealth suspended across borders, with bank accounts in different countries and income in different currencies. Taxes, transaction fees, currency conversions, and restrictions around opening a bank account are common headaches an overseas worker...

The process of buying property in Zambia involves an important document known as the contract of sale. This formal agreement outlines the terms and conditions under which a seller agrees to sell a property and a buyer agrees to purchase it. When drafting your contract of sale, there are five essential elements that you should consider: 1. Two Parties: A valid contract of sale requires at least two...

6 Tips When Looking For Rental Property In Lusaka Here are 6 tips when looking for a rental property in Lusaka. We hope this saves you time and a potential disaster story in which you're the victim! Feel free to add to these your own tips in the comment section. 1. Use a real estate agent. Yes, it sounds biased coming from an agency right? Truth is, however, while some people think searching for the...

Property Transfer Tax in Zambia: Special Cases So now that you understand your tax obligations on a property for sale, you need to also have an idea of the special cases that may apply with regard to property transfer tax (PTT) in Zambia. In a few special cases, you may be exempt from paying property transfer tax in Zambia. The following are some special cases that provide for exemptions at the time of...

Planning Your Mortgage for Your Real Estate Purchase in Zambia Investing in real estate is a wise decision, and owning your own home is a dream for many. However, it's crucial to plan your mortgage carefully to ensure a smooth and successful real estate transaction. Here are some steps to guide you in planning your mortgage for a real estate purchase in Zambia. 1. Assess Your Financial State Before...

When considering a neighbourhood for your property investment, there are several factors to take into account before consulting with your broker. Here are some valuable tips to help you choose the ideal neighbourhood for your property investment. 1. Neighborhood Characteristics The neighbourhood itself plays a crucial role in attracting quality tenants and determining vacancy rates. Investing in an...

NOTE: 2022 Update here: 2022 Budget Changes on Rental Income Taxation 14th February 2018 Issued by Topsy Sikalinda Corporate Communications Manager Zambia Revenue Authority (ZRA) ZRA CALLS ON ALL TENANTS AND LANLORDS TO REGISTER FOR WITHHOLDING TAX ON RENTAL INCOME The Zambia Revenue Authority (ZRA) has given an opportunity to all landlords and tenants that are not registered and are not...

When engaging in property transactions in Zambia, one common question arises: Who pays the property transfer tax? In this article, we will provide clear definitions and explanations to help you understand this aspect of real estate transactions. Defining Property and Property Transfer Tax: In Zambia, property refers to any land, including buildings and additions made to or on the land at the time of...