Zambia: First quarter 2022 provisional income tax return due dates and related penalties

Due dates and related penalties for purposes of the first quarter provisional income tax returns for the 2022 tax year

First quarter 2022

The following due dates and related penalties apply for purposes of the first quarter provisional income tax returns for the 2022 tax year:

  • Return submission and payment due dates - The first quarter provisional income tax return for the 2022 tax charge year is due on 31 March 2022, and the provisional income tax payment is due on 10 April 2022.
  • Late-return submission penalty - Late submission of the provisional income tax return attracts a penalty of ZMW600 per month or part thereof.
  • Late-payment penalty and interest - A 5% late-payment penalty per month or part thereof, and late-payment interest at 2% above the Bank of Zambia discount rate, will apply on late payment of provisional tax.
  • Under-estimation penalty - Payment of at least two-thirds of the final corporate income tax liability in provisional taxes is required. Failure to do so results in a 25% under-estimation penalty. 

Read a March 2022 report prepared by the KPMG member firm in Zambia

 

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