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(Last updated: 2 Jul 2011)

Taxation

Zambia has established an effective tax administration system operated by the Zambia Revenue Authority (ZRA).

It has moved ahead of other member states of the Common Market for Eastern and Southern Africa Zambia, in adopting tariff reductions of up to 80 per cent on most tradeable commodities.

In the last budget the Zambian government announced reforms to the import Value Added Tax (VAT). Previously, importers had to borrow money at high interest rates to pay for large capital items. This raised investment costs and dampened economic growth. A VAT Deferment Scheme on capital goods and some raw materials was reintroduced, effectively scrapping VAT payments.

Corporate tax rate has just been reduced to 30 per cent from 35 per cent.

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OECD Guidelines for Multinational Enterprises

Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government. For more information, go to the AusNCP website.

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