Zambia presents 2025 budget, introduces limited tax measures

03 October, 2024

Zambia's Ministry of Finance and National Planning Minister Situmbeko Musokotwan presented the 2025 Budget Speech to the National Assembly on 27 September 2024. The budget focuses on revenue generation through limited tax measures without

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Zambia presents 2025 budget

01 October, 2024

Zambia’s Minister of Finance and National Planning, Situmbeko Musokotwane, presented the 2025 National Budget to the National Assembly on Friday, 27 September 2024. “The 2025 budget is premised on economic recovery and promoting growth to

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Kenya to revise tax treaties with Zambia, Germany, Iran

07 August, 2024

Kenya’s government has shown interest in restarting negotiations to revise its 1968 tax treaty with Zambia, the 1977 tax treaty with Germany, and the 2012 tax treaty with Iran. This follows after the Kenyan government decided to align its tax

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Turkey and Zambia initiate talks on income tax treaty for mutual investment stability

07 May, 2024

The Revenue Administration of Turkey has stated that delegates from Turkey and Zambia convened for the inaugural round of negotiations for an income tax treaty from 23 - 25 April, 2024. If the entire agreement is signed and comes into force, it will

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Zambia enacts tax amendments outlined in the budget 2024

15 January, 2024

On 22 December 2023, Zambia took a significant step in reshaping its fiscal landscape by enacting various amendment acts to implement the 2024 budget tax changes. The key highlights of these tax measures include: Income Tax Adjustments:

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Zambia proposes the Budget for 2024

16 October, 2023

On 29 September 2023, the Minister of Finance and National Planning, the Honorable Situmbeko Musokotwane , presented the 2024 Budget Speech to the National Assembly of Zambia.  Important tax measures proposed in budget include the following:

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Zambia: Ministry of Finance and National Planning extends tax amnesty period on interest and penalties

10 April, 2023

On 31 March 2023, the Minister of Finance and National Planning, Situmbeko Musotokwane, has declared an extension to the tax amnesty program which will exempt all penalties and interest on past due taxes. This extension will last for a period of 3

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Zambia: MoF presents 2023 Budget

23 October, 2022

On 30 September 2022, the Minister of Finance (MoF) proposed the 2023 Budget to the National Assembly. The important tax measures of the budget include: Reduce the corporate income tax rate from 30% to 25% on income earned from value addition

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Zambia: Government implements budget tax changes for 2022

26 April, 2022

Recently, the Zambian Government has published Practice Note No. 1/2022 which provides an overview of the various 2022 tax changes implemented through the Budget 2022 Amendment Acts. The most important changes are summarized below: Corporate

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Zambia publishes provisional income tax return due dates and penalties for 2022

23 March, 2022

Recently, the Zambia Revenue Authority (“ZRA”) released the due dates and associated penalties for the purposes of provisional income tax returns for the first quarter for the tax year 2022. For the 2022 tax year, the following due dates and

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Zambia proposes transfer pricing changes

09 December, 2021

On 29 October 2021, the Zambian government has presented the budget for 2022 to the Parliament. The budget proposes a number of significant changes in corporate taxation including amendments to transfer pricing regulations. The budget introduces

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Zambia proposes the Budget for 2022

17 November, 2021

On 29 October 2021, the Minister of Finance and National Planning, the Honorable Dr. Situmbeko Musokotwane, presented the Budget for 2022 to the National Assembly of Zambia. The budget includes the following changes: Proposed to reduce the

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Zambia introduces CbC Reporting requirements

08 March, 2021

On 31 December 2020, Zambia has published The Income Tax (Transfer Pricing) (Amendment) Regulations under Statutory Instrument No. 117 of 2020. The Regulations introduce country-by-country (CbC) reporting requirements, which are effective from 1

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Zambia: MOF presents the budget for 2021 to the National Assembly

15 October, 2020

On 25 September 2020, the Minister of Finance (MOF) presented the budget for 2020 to the National Assembly. Under the budget the following important amendments to the Income Tax Act will take effect from 1 January 2021: Corporate tax

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OECD: Case Study on BEPS in the Mining Sector in Zambia

02 August, 2020

On 30 July 2020 the OECD published on its website a case study summarising assistance given to Zambia’s tax administration in relation to base erosion and profit shifting (BEPS) in the mining sector. The case study details how support was given

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Zambia: Supreme Court makes a decision on a transfer pricing case

31 May, 2020

On 20 May 2020, the Supreme Court of Zambia has made a decision on a transfer pricing case relating to arm’s length transaction. Since 2009, the Zambia Revenue Authority (ZRA) has been battling with Mopani Copper Mines and its Swiss parent

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Zambia: Tax measures in response to COVID-19

08 April, 2020

On 27 March 2020, the Ministry of Finance of Zambia has published a Statement by the Hon. Minister of Finance on COVID-19. The tax relief measures taken to mitigate the impact of COVID-19 include: Suspend excise duty on ethanol for use in

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Zambia: Parliament enacts Tax Amendment Act 2020

23 January, 2020

On 27 December 2019, Zambian Parliament has enacted the Tax Amendment Act 2020 regarding the decree of the National Budget 2020. Income tax amendment is included in Act No. 15 of 2019 which is effective from 1 January 2020. The amendments regarding

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