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Retained

  • Statutory Tax Rate 30
  • Surtax Based on Taxable Income 0
  • Surtax Based on Statutory Tax 0
  • Surtax Deductible from Taxable Income 0
  • Statutory Tax Deductable 0
  • Effective Tax Rate 30

Statutory Tax Rate

The standard corporate tax rate for companies is 30% (reduced from 35% effective 1 January 2022).

Companies listed on the Lusaka Securities Exchange are eligible for a 2-percentage point discount on the corporate income tax rate during the first year of listing. The discount is increased to 7 percentage points only for the first year if at least one-third of the listed company is held by Zambian nationals.

Other rates apply as follows:

  • 40% tax rate for mobile phone operators with respect to income in excess of ZMW 250,000 (the standard corporate tax rate applies to the first ZMW 250,000 of income);
  • 10% for farming, agro-processing, and export of non-traditional products from farming or agro-processing; and
  • 15% for production of organic fertilizer and manufacture of chemical fertilizer, and export of non-traditional products other than those relating to farming and agro-processing.

The corporate income tax is suspended for companies engaged in the business of manufacturing ceramic products for the tax years 2022 and 2023 (i.e., 0% tax rate).