Zambia Statutory instrument

Zambia legislation

Income Tax (Foreign Organisations) (Exemption Approval) Order, 1981

The named banks are approved for tax exemption for the Agreement described in the Schedule. Approved foreign organisations are exempt from tax on income and emoluments arising under the Schedule agreement.

exemptionforeign organisationstax exemption

Jurisdiction: Zambia
Structure: 2 provisions
Citation: SI 49 of 1981
Dates: Source version 27 Mar 1981

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Dates: Source version 27 Mar 1981

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“The named banks are approved for tax exemption for the Agreement described in the Schedule.”

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With respect to the Agreement described in the Schedule

The named banks are approved for tax exemption for the Agreement described in the Schedule.

Section 2

The income and emoluments of the foreign organisations

Approved foreign organisations are exempt from tax on income and emoluments arising under the Schedule agreement.

Section 3

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Source record from zambialii.org · Source version 27 Mar 1981

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Showing 2 of 2 provisions

Provision 2

§ 2With respect to the Agreement described in the ScheduleProvision

The named banks are approved for tax exemption for the Agreement described in the Schedule.

2. With respect to the Agreement described in the Schedule hereto, Bank of America National Trust and Savings Associa tion, Bank of America International Limited, and all other Banks named therein as signatories to such Agreement are hereby approved for the purpose of exemption from tax.

Section 2Verify source

§ 3The income and emoluments of the foreign organisationsProvision

Approved foreign organisations are exempt from tax on income and emoluments arising under the Schedule agreement.

3. The income and emoluments of the foreign organisations approved in paragraph 2 of this Order accruing under the Agreement described in the Schedule hereto shall be exempt from tax pursuant to sub-paragraph (c) of paragraph 4 in Part II of the Second Schedule to the Act. Approval of foreign organisations Exemption from tax LUSAKA 27th March, 1981 [MF/SF.311] K. s. K. MusOKOTWANE, M ini.ster of Finance SCHEDULE (Paragraph 2) AGREEMENT The loan Agreement signed on 0th March, 1981, between the Bank of 'Zambia (as Borrower) and Bank of America. National Trust and Savings Association (a.a Agent), Ba.nit. of America lnternationnl Limited (as Manager) .and various other Banks which aro signatories thereto, for the sum of one hundred and fifty million United States dollars (US $160,000,000) which is o.pproximately equal to one hundred and eighteen million o.nd twenty thousand kwaoha (KllS,020,000). Copica of thUJ Statutory lnstrume.nt can be, obtaine.d from tM Government Prinur ' P.O. Box 30136, Lu8aka. Price 10n each. 120 Stalutory I nstrumen!s 27th March, 1981

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1 referenced instrument

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N–S

1 instrument

Second Schedule to the Act
Section 3

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27 Mar 1981 · currentEnglish

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