Zambia presents the budget for 2020

09 October, 2019

On 27 September 2019, 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 2020: Corporate tax

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Zambia: Tax Appeals Tribunals decision on arm’s length arrangements between related parties

10 April, 2019

Recently, the Tax Appeals Tribunal (TAT) issued a decision for the Zambia Revenue Authority (“ZRA”) in the case of: Nestlé Zambia Trading Limited v. Zambia Revenue Authority TAT 03, regarding transfer prices used with respect to its

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Zambia publishes Budget for 2019

23 March, 2019

On 1 January 2019, The Zambian government published budget for 2019 to the National Assembly.  Key modifications of tax rules are summarized as follows: Limit the deductibility of interest on debts owed by a taxpayer to 30 % of the

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Zambia: Finance Minister presents National Budget 2019

04 October, 2018

On 28 September 2018, Zambia’s Minister of Finance, Hon. Margaret Mwanakatwe presented the 2019 National Budget to Parliament. The time period for making transfer pricing assessment may be raised for a period exceeding 6 years but not exceeding 10

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Zambia: Government publishes new transfer pricing regulations

25 April, 2018

Zambia published the income tax (transfer pricing) (Amendment) regulations under Statutory Instrument No. 24 of 2018 in the official gazette on 6th April 2018. The 2018 regulations conduct transfer pricing transactions between related entities as

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Agreement to Create the African Continental Free Trade Area

22 March, 2018

On 21 March 2018 leaders of 44 African countries signed an agreement to create the African Continental Free Trade Area (AfCFTA). The agreement if implemented would remove barriers to trade, such as tariffs and import quotas, allowing the free flow

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Morocco: Council of Ministers approve DTA with Zambia

12 February, 2018

On January 22, 2018, the Council of Ministers of Morocco has approved the income tax treaty with Zambia. The treaty provides for the avoidance of double taxation and the allocation of taxing rights over various categories of income. It was signed on

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Zambia: MoF approves amendments in transfer pricing regulation

20 December, 2017

The Minister of Finance (MoF) is set to approve changes in transfer pricing rules, including procedures for the valuation of the transfer pricing transactions between related entities and allow for taxable income adjustments and documentation

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Netherlands and Zambia: Dutch parliament approves DTA

31 October, 2017

The lower house of the Dutch parliament approved the Double Taxation Agreement (DTA) with Zambia on 24 October 2017 for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income. Once in force and

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Morocco: DTA signs with Zambia

12 October, 2017

On October 11, 2017, the Double Taxation Agreement (DTA) between Morocco and Zambia was signed for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, in

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Zambia: Budget for 2018

11 October, 2017

Finance Minister of Zambia presented the 2018 National Budget for the year 1 January 2018 to 31 December 2018 to the National Assembly on 29th September 2017. Budget for 2018, which lays out the various expenditure and revenue measures aimed at

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DTA between Switzerland and Zambia signs

28 September, 2017

The Double Taxation Agreement (DTA) between Switzerland and Zambia was signed in Lusaka on 29 August 2017. Once in force and effective, the new treaty will replace the existing DTA of 1954. The agreement contains Dividends rate 5% for at least 10%

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Zambia: Revenue Authority extends tax amnesty period on interest and penalties

14 August, 2017

The amnesty on interest and penalties which was introduced by the Zambia Revenue Authority (ZRA) on 24th April 2017, came to a close on 31st July 2017. During this period, taxpayers were expected to submit outstanding tax returns and pay all

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Zambia: Finance Minister presents national budget for 2017

15 February, 2017

The Minister of Finance has presented national budget for 2017 to the National Assembly on  11th November 2016. The budget of 2017 highlights some important issues which are given below: Direct tax      PAYE threshold increased from K3,000

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DTA between Morocco and Zambia initialed

12 December, 2016

An Income Tax Treaty between Morocco and Zambia has been initialed on 9th December 2016 in Lusaka for avoiding double

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Zambia: Draft Budget for 2017

30 November, 2016

The Minister of Finance submitted the 2017 Draft Budget to the National Assembly on 11 November 2016. The proposed measures regarding to direct taxation as enclosed in the Budget are given below- Corporate taxation: The capital payment rate on

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Zambia: IMF comments on fiscal policy

28 May, 2015

The International Monetary Fund (IMF) issued a press release on 22 May 2015 following discussions with Zambia under Article IV of its articles of association. Although Zambia has strong growth potential economic growth has slowed. Growth was down

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DTA between Ireland and Zambia signed

24 April, 2015

The income tax treaty between Ireland and Zambia was signed for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income in Lusaka on 31 March 2015. Once in force and effective, the new treaty will

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