Zimbabwe

Taxes on Foreigners' Real Estate Rental Income in Zimbabwe

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Tax on property income in Zimbabwe

Taxation Researcher | January 20, 2020

Effective Tax Rate on Rental Income
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

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 2018
TAXABLE INCOME, US$
TAX RATE
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

INCOME TAX 2019
TAXABLE INCOME, US$
TAX RATE
Up to US$4,200 0%
US$4,200 – 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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