UK-Zambia double taxation agreement implemeted
The Britain has commended the Zambian government for implementing the UK-Zambia double taxation agreement.
British High Commissioner to Zambia James Thornton said the agreement will help promote and foster business linkages between British and Zambia companies.
In a press statement issued to ZANIS in Lusaka today, Mr. Thornton said the publication of the agreement was a welcome development as it will enable Zambian and British companies to work together.
He noted that the double taxation agreement has eliminated administrative burdens and the additional costs to the business of being taxed twice.
Mr. Thornton further said the agreement will create a strong partnership between the two countries.
He said it will also help Zambia not only to continue growing prosperously but also to have a strong commercial basis.
The agreement was signed on February 4, 2014 during a ceremony held at the Ministry of Finance in Lusaka and came into force on July 20, 2015.
The new agreement has since replaced the 1972 double taxation agreement between the UK and Zambian government and will take account of the taxation policies and international developments.
