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Return submission and payment due dates - The first quarter provisional income tax return for the 2022 tax charge year is due for submission to Zambia Revenue Authority (“ZRA”) 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 - You are required to pay at least two thirds of the final corporate income tax liability in provisional taxes. Failure to do so results in a 25% underestimation penalty being levied by the ZRA. 

If you would like us to assist you with the preparation and submission of the provisional income tax return, please provide us with the revenue and expenditure budget or forecast for the full financial year falling in the 2022 tax charge year.