Zambia

Zambia

Removes additional incentives from the Zambia Development Agency Act

11 Nov 2011

The Zambia Budget 2012 has removed the provision to grant additional incentives under Section 58 of the Zambia Development Agency Act for investments worth more than US $10 million. This measure is intended to make the provision of tax incentives more transparent by removing the use of discretionary powers when granting extra incentives. This measure also aims to prevent further leakages in the tax system and facilitate domestic resource mobilisation.