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 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:

• Effective 1 January 2023, 35% for taxpayers operating in the telecommunication sector. Until 31 December 2022, a two-tiered tax structure applied as follows:
• 30% for the first ZMW 250,000 of income; and
• 40% for income in excess of ZMW 250,000;

• 10% for farming, agro-processing, and export of non-traditional products from farming or agro-processing;
• 25% (reduced from 30% effective 1 January 2023) for lapidary and jewelry facilities in the gemstone industry;
• 35% on income earned from mineral processing; and
• 15% for the production of organic fertilizer and the manufacture of chemical fertilizer.

The corporate 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).

A presumptive tax at the rate of 15% (reduced from 25% effective 1 January 2023) applies for taxpayers engaged in land-based (brick and mortar) betting operations for the tax years 2023 and 2024.