At a British Chamber event on 25 June 2015, Emily Hamilton and Michael Phiri from KPMG Zambia made a thought provoking wake-up call for guests on double taxation tax treaties, specifically the now ratified one between Zambia and the UK.
Their presentation (available as a download on this page) covered key aspects, including:
- UK-Zambia double tax treaty: what it is and why we should car and how does the new UK-Zambia treaty changes matters.
- Different types of business arrangements:
- Zambian businesses looking to import goods and services from the UK
- Zambian businesses looking to export goods and services to the UK
- UK businesses operating in Zambia
- Tax issues for individuals moving between the UK and Zambia and a number of practical issues.
The presentation reminded us of the different corporate types, the changes to treatment of dividends and the need to consider liability for withholding taxes and obligations such as NAPSA, PAYE, etc.
While the presentation raised as many questions as it answered, and the general discussion that followed covered a number of points, it is clear that companies, as well as individuals, need to make sure that they are compliant and to seek professional advice, whether from KPMG or their own advisers – and if you don’t have one now is the time to get one!
Download the presentation: KPMG-BCC UK-Zambia Tax Issues.