Tax on property income in Zimbabwe
October 20, 2016
Effective Tax Rate on Rental Income |
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| Monthly Income | €1,500 | €6,000 | €12,000 |
| Tax Rate | 11.00% | 17.75% | 21.79% |
| Click here to see a worked example | |||
| Source: Global Property Guide research |
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INDIVIDUAL TAXATION
Nonresidents are taxed on their income from Zimbabwe sources. Married couples are taxed separately.
INCOME TAX
Taxable income includes: (1) employment income, (2) income from trade or business, and (3) investment income. Income is taxed at progressive rates.
INCOME TAX 2016 |
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| TAXABLE INCOME, US$ | ||
| Up to US$3,600 | 0% | |
| US$3,600 – US$18,000 | 20% | |
| US$18,000 – US$36,000 | 25% | |
| US$36,000 – US$60,000 | 30% | |
| US$60,000 – US$120,000 | 35% | |
| US$120,000 – US$180,000 | 40% | |
| US$180,000 – US$240,000 | 45% | |
| Over US$240,000 | 50% | |
| Source: Global Property Guide | ||
RENTAL INCOME
Rental income is taxed at the standard income tax rates.
CAPITAL GAINS
Capital gains are treated as ordinary income and taxed at the standard income tax rates.
For taxpayers over 55 years of age, they do not have to pay taxes on capital gains realized from the sale of their primary residence.
PROPERTY TAXATION
There are no property taxes in Zimbabwe.
CORPORATE TAXATION
INCOME TAX
Income and capital gains earned by companies are taxed at a flat rate of 25%. Income-generating expenses are deductible when calculating taxable income.
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