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...
5 Essential Elements Of A Contract Of Sale: Buying Property In Zambia The contract of sale is an essential part of the process when buying property in Zambia. The contract of sale is a formal document outlining terms and conditions by which a seller agrees to sell and a buyer agrees to buy a property described in the document. The contract is signed by both parties after a final draft is agreed upon by the...
Property Transfer Tax in Zambia: Special Cases So now that you understand your tax obligations on property for sell, you need to also have an idea of the special cases that may apply with regards to property transfer tax (PTT) in Zambia. In a few special cases, you may be exempt from paying property transfers tax in Zambia. The following are some special cases that provide for exemptions at the time of...
10 Tips On How To Choose The Right Neighbourhood For Your Property Investment When thinking about a neighbourhood for your property investment, you will consider a number of factors before looking or speaking to your broker. Here are a few tips to consider when selecting a neighbourhood for your property investment. The Property’s Neighbourhood The neighbourhood will determine the quality of tenants...
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 paying...
Asking Rental Price - Reserve Rent or Gross Rent? Asking rental price on rental property is the amount stated on advertising for a rental property. This amount may or may not include other costs like utility bills, taxes, etc. By now, most tenants and property owners already know about tax obligations on rental property or at least about the withholding tax. If not, read this article, click "Your Tax...
Your Prospects for Success in Zambian Real Estate for 2018 What are your prospects for success in Zambian real estate for 2018? Can you increase your potential success? Are you interested in real estate? Most likely YES right... Are you interested in Zambian Real Estate? Well, you should be! Come join BCA Properties as we host key industry stakeholders in the real estate sector to discuss trends,...
Who pays property transfer tax in Zambia? A common question sometimes in property transactions once the ideal real estate is found and buyer wants to move on transaction. Let’s begin by adding some definitions: Property in this case will be regarded as any land in Zambia including any buildings or additions made to or on the land at the time the transfer is effected or made. Property Transfer Tax (PTT)...
NOTE: 2022 Update here; 2022 Budget Changes on Rental Income Taxation Give to Caesar that which belongs to Caesar. A little difficult most times to know everything that belongs to Caesar, perhaps Caesar owns far too much? Regardless, it is important to be compliant and avoid running into any potential trouble with the law. Ignorance is no defense. Recently, the Zambia Revenue Authority (ZRA) has been...