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 two new schedules that allow taxpayers to provide the information required by international country-by-country reporting (CbC) obligations, and it adds tax measures to encourage investment in special economic zones and the mining sector. The government also plans to introduce regulations prescribing the procedure for the submission of the country-by-country report.
