Zambia Budget Hikes Sales and Income Taxes

Zambia Budget Hikes Sales and Income Taxes

Zambia's 2027 budget proposes higher VAT, a 39.5% top income tax rate and US$14.5 billion in spending, with the deficit target cut to 3.0% of GDP.

Here Is Who Pays More Under Zambia’s 2027 Budget Tax Measures

High earners, small companies, mobile money users and mining shareholders face a heavier tax load from January 2027. Finance and National Planning Minister Dr Situmbeko Musokotwane has proposed a package of revenue measures expected to raise an extra K10.8 billion. The package raises Value Added Tax (VAT) to 16.5 per cent from 16 per cent […]

Government Introduces 39.5% PAYE Tax for Monthly Earnings Above K37,000

GOVERNMENT has introduced a top marginal Pay As You Earn (PAYE) tax rate of 39.5 percent for individuals earning above K37,000 per month. Minister of Finance and National Planning, Dr Situmbeko Musokotwane, said individuals earning K37,000 and below would continue to be taxed under the current tax regime and would therefore not be affected by […] The post Government Introduces 39.5% PAYE Tax for Monthly Earnings Above K37,000 first appeared on M…

GOVT PROPOSES 39.5% PAYE TAX FOR ZAMBIANS EARNING ABOVE K37,000 PER MONTH – MUSOKOTWANE.

GOVERNMENT PROPOSES 39.5% PAYE TAX FOR ZAMBIANS EARNING ABOVE K37,000 PER MONTH – MUSOKOTWANE. Government has proposed introducing a new top marginal Pay As You Earn (PAYE) tax rate of 39.5 percent for individuals earning more than K37,000 per month, in a move that could see higher-income earners contribute more in personal income taxes. Minister […] The post GOVT PROPOSES 39.5% PAYE TAX FOR ZAMBIANS EARNING ABOVE K37,000 PER MONTH – MUSOKOTWANE…