Insurance Tax

Calculate insurance premium tax and other insurance-related taxes. Estimate tax obligations for insurance companies, brokers, and policyholders in Zimbabwe.

Insurance Tax Calculation

Premium Tax
On insurance premiums
5%
Commission Tax
On broker commissions
15%
Corporate Tax
On insurance company profits
24.72%

* The actual rate applied is determined by the specific insurance transaction type

Insurance Tax Info

Premium Tax Rate:5%
Commission Tax:15%
Filing Frequency:Monthly
Payment Deadline:25th each month

Insurance Tax Tips

  • Premium tax applies to most insurance policies
  • Commission tax withheld from broker payments
  • File monthly insurance tax returns
  • Maintain detailed policy and commission records

Insurance Types

Tax applies to various insurance types:

Life insurance policies
Motor vehicle insurance
Property insurance
Health insurance
Travel insurance
Business insurance

Compliance Requirements

  • Register with Insurance and Pensions Commission (IPEC)
  • Submit monthly premium tax returns
  • Withhold commission tax from broker payments
  • Maintain policy records for 7 years

Tax Rates Breakdown

Insurance Premiums:5%
Broker Commissions:15%
Corporate Profits:24.72%
Reinsurance Premiums:2.5%