Question: What Is Turnover Tax In Zambia?

Who pays property transfer tax in Zambia?

The PTT is payable by the Zambian entity whose shareholding is indirectly transferred.

PTT is also payable on the transfer of a mining right at the rate of 10%.

PTT also applies on the transfer of intellectual property (IP) at the rate of 5%.

The PTT liability is generally payable by the vendor..

How do I calculate my income tax?

To calculate your estimated taxes, you will add up your total tax liability for the year—including self-employment tax, income tax, and any other taxes—and divide that number by four.

How much does it cost to clear a car in Zambia?

Usually a clearing agent, such as the one listed below, is requested to do this work. The clearing agents arrange customs clearance and inland transportation. Customs clearance and inland transportation from Dar es Salaam to Lusaka costs approximately $1,200 – 1,500 per vehicle and takes approximately 12 days.

How much do you get taxed if you earn 50k?

Tax year 2019/2020Taxable income (England and Wales)Rate of tax£0 – 12,5000% (personal allowance)£12,501 – £50,00020% (basic rate)£50,001 – £150,00040% (higher rate)Over £150,00045% (additional rate)

What is income tax in Zambia?

Personal income tax ratesTaxable income (ZMW)Rate of income tax (%)Up to 39,600039,601 to 49,2002549,201 to 74,40030Over 74,40137.5Aug 20, 2020

How much is customs duty in Zambia?

Most goods fall into one of three tariff bands: 0-5% (Capital Equipment and Raw Materials); 15% (Intermediate Goods); or 25% (Finished Goods). Duty on productive machinery for agriculture, aquaculture, solar energy and mining is zero percent.

How is motor vehicle duty calculated?

Your motor vehicle duty depends on how much your vehicle is worth, and whether it’s a passenger vehicle. For new vehicles, the duty is calculated on the amount you paid for the vehicle, including GST. For used vehicles, the duty is calculated on the sale price or market value, whichever is higher.

How is import duty calculated on cars Zambia?

Excise Duty: Passenger vehicles with engine size not exceeding 1500cc: 20% of CIF. Passenger vehicles with engine size exceeding 1500cc: 30% of CIF. Vehicles for Transportation of Goods: 10% of CIF.

How do I pay my turnover tax?

Login to, select “file turnover tax return” under the returns menu, complete the return and submit. After filing the return, go to the payment menu, select “payment”, declare the amount filed, and generate the payment slip. Follow the steps in the payment slip to make the payment.

How much is duty for cars in Zambia?

Importation of motor vehicles attracts customs duty at 25%, an excise duty of 20%-30% (depending on engine size) and on top of this, a value added tax (VAT) at 16%. This results in inflation in the cost of motor vehicles in Zambia of between 75% and 90%.