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Many Zambian Forex traders are unsure of their legal tax obligations towards the Zambian Revenue Authority (ZRA). Most trading accounts are overseas, and the gains made from their trading are not visible to the ZRA; some traders open trading accounts with Forex brokers located in Zambia or with brokers with branches in Zambia. In this case, these traders’ capital won’t leave the country.
It is a common misperception that traders don’t need to pay income tax on profits made in offshore trading accounts. Suppose a Zambian resident generates profit from trading in an offshore trading account while residing within the borders of Zambia. In that case, the profit is regarded as normal taxable income and needs to be declared in their tax returns. In this case, it doesn’t matter where the income originates from but rather where the person resides while generating that income.
Forex traders who trade in their individual capacity and special trusts are subject to income tax under ZRA's income tax for individuals.
This article is a general guide and is not intended as individual legal tax advice. For more specific information on Zambian tax legislation please consult a registered tax practitioner or the Zambian Revenue Authority.
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Partner Manager and Financial Writer
Chris Cammack is partner manager and senior financial writer at FxScouts, specialising in broker relations and forex market analysis. As the former Head of Content (2019–2024), he set editorial standards for all content published at FxScouts, including broker reviews, broker comparison pages and education.
With over a decade of experience in editorial management and partner relations, Chris builds and maintains our relationships with our partners to provide the best Forex trading experience for our users.
He also co-hosts the “Let’s Talk Forex” podcast with Alison Heyerdahl, where he explores trading strategies, industry news, and macroeconomic trends to help traders navigate the markets with confidence.
Head of Content
Alison joined the team as a writer in 2021. She is the Head of Content for FxScouts. She has a medical degree with a focus on physiotherapy and a bachelor's in psychology. However, her interest in Forex trading and her love for writing led her to switch careers. She has a passion for Forex trading and over a decade of editorial experience researching Forex and the financial services industry, producing high-quality content. She hosts a weekly podcast, "Let's Talk Forex", alongside Chris and has produced over 100 Forex educational videos for the FxScouts YouTube channel. She also writes weekly technical analyses and has tested and reviewed over 120 Forex brokers.
Financial Writer
Ida is a financial writer with a degree in Digital Marketing and a strong background in content writing and SEO. Her expertise extends beyond marketing and writing, with a keen interest in cryptocurrencies and blockchain networks. Ida's passion for crypto trading sparked a deeper fascination with Forex technical analysis and price movement. She is continually expanding her knowledge in Forex trading, staying informed about the latest trends and identifying the best trading environments for new traders.
Financial Writer
