Tax on property income in Zimbabwe
October 20, 2016
Effective Tax Rate on Rental Income
|Click here to see a worked example|
Global Property Guide research
Nonresidents are taxed on their income from Zimbabwe sources. Married couples are taxed separately.
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
|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%|
|Source: Global Property Guide|
Rental income is taxed at the standard income tax rates.
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.
There are no property taxes in Zimbabwe.
Income and capital gains earned by companies are taxed at a flat rate of 25%. Income-generating expenses are deductible when calculating taxable income.