—The United Kingdom (UK) and Zambia have signed a Double Taxation agreement that will see businesses and individuals in both countries paying tax fairly and equitably.
The Agreement replaces the 1972 double Taxation Agreement between the UK and Zambia which was often mitigated by tax treaties between countries.
Finance Minister, Alexander Chikwanda, signed on behalf of the Zambian government while British High Commissioner to Zambia, James Thornton, signed on behalf of the UK.
And Mr Thornton said UK and Zambia have a substantial development cooperation programme which has continued to grow each and every year.
In a statement issued to ZANIS in Lusaka today, Mr Thornton said it is in this fact that Zambia should continue to prosper in its economy and achieve a strong commercial basis.
Mr Thornton said the new Agreement will help underpin the commercial relationship that has continued to exist between the two countries.