Income Tax (Foreign Organisations) (Exemption Approval) (No. 3) Order 1982

This Order may be cited as the Income Tax (Foreign Organisations) (Exemption, Approval) (No. 3) Order 1982.

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Jurisdiction: Zambia
Instrument: Statutory instrument
Citation: SI 36 of 1982
Version: 9 Mar 1982
Language: en
Official source: View official record ↗

borrowing financing loan loan agreement tax exemption

Statute overview

About this statute

This Order may be cited as the Income Tax (Foreign Organisations) (Exemption, Approval) (No. 3) Order 1982. Foreign organisations listed in Part I of the Schedule are approved for exemption from tax. Certain foreign organisations’ income and emoluments are exempt from tax if they are approved under paragraph 2 and the income accrues under the listed agreements. Section 2 is titled “Caterpillar Overseas·Credit Corporation SA”. This section names First Wisoonsin National Bank of Milwaukee and Hartford National Bank.

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Provisions of Income Tax (Foreign Organisations) (Exemption Approval) (No. 3) Order 1982

Showing 12 of 12

1
This Order may be cited as the Income· Tax (Foreign
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AI-assisted research summary: This Order may be cited as the Income Tax (Foreign Organisations) (Exemption, Approval) (No. 3) Order 1982.

1. This Order may be cited as the Income· Tax (Foreign Organisations) (Exemption:·,ApprovalJ'(No:, 3) OrderJ 1982( Title
2
With resp;,sct',to, tne A'.greements dcscrilied'•in,Bart,II
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AI-assisted research summary: Foreign organisations listed in Part I of the Schedule are approved for exemption from tax.

2. With resp;,sct',to, tne A'.greements dcscrilied'•in,Bart,II: of the Schedule hereto, the foreign� organisations -mentioned'' in Part I of the s�id Schedule are hereby approved for the purpose of exemption from tax. Ap'prOVO.l\l of, foreign· ·· organisations
3
The income and emoluments of the foreign organisations
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AI-assisted research summary: Certain foreign organisations’ income and emoluments are exempt from tax if they are approved under paragraph 2 and the income accrues under the listed agreements.

3. The income and emoluments of the foreign organisations approved in paragraph 2 of this Order accruing under the Agreements described in Part II of 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. Exemption from tax K. S. K. MUSOKOTWANE, Minister of Finance LUSAKA 9th March, 1982 [MF/LAND I/GEN.034] [MF/L AND I/G UAR.07 6/008] [MF/LAND I/GUA&.075/014] SCHEDULE (Paragraph 2) p,.-i:J,i Foreign OrganisaUons

Part

SCHEDULE

2
Caterpillar Overseas·Credit Corporation SA
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AI-assisted research summary: Section 2 is titled “Caterpillar Overseas·Credit Corporation SA”.

2. Caterpillar Overseas·Credit Corporation SA
4
First Wisoonsin National Bank of Milwaukee
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AI-assisted research summary: This section names First Wisoonsin National Bank of Milwaukee and Hartford National Bank.

4. First Wisoonsin National Bank of Milwaukee O. Hartford National Bank
6
The Royal Bank of Canada
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AI-assisted research summary: This section names The Royal Bank of Canada and Standard Export Limited.

6. The Royal Bank of Canada ¥ arid Sta.ndMd Export Limited
7
�
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AI-assisted research summary: The text is garbled and appears to reference Standard Chartered Merchant Bank Limited, but no rule is stated.

7. � s. Sto.ndard Chartered Merohant Bank Limited
9
1\Iitsui Company Limited
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AI-assisted research summary: This text appears to be a publication note for the statutory instrument, saying copies can be obtained from the Government Printer in Lusaka for 10n each.

9. 1\Iitsui Company Limited IO. Mitsubishi Corporation Copies of this SfnJ.uk.Jry I1t8trument c:an be o�ta£ned' from tM Government Printer, P.O. Box 301�6, Lusaka. Prke 10n. eaDh, 9th}Jarch, 1982 • Statutory lns!rumenta -----'-'-----'--------�--'----------------�� .. :-1 } • - ; . . • 1 •-•~-�>.� . •. - ,• • - -r Pil,r II Agreamenls
1
The Agreement dated 22nd Ocitober, 1979, betWoon Nohango. c'on
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AI-assisted research summary: This provision identifies an agreement dated 22 October 1979 and states that it involved a loan of US$25,500,000 (about K22,779,150).

1. The Agreement dated 22nd Ocitober, 1979, betWoon Nohango. c'on aolidated Copper Mines Limited (as Borrower), Equs.tot Bank Limited (as Agent) and the Commercial Lenders named therein and the Export Import Bank of the United States of America (as Lenders) for a loan of twenty-five million five hundred thousand United States Dollars (US$25,500,000) whioh is about twenty-two million seven hundred and seventy-nine thoU88.nd one hundred and fifty Kwaoho {K22,779,150). I
2
The Agreement dated 23rd January, 1981, between Nohanga Con
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AI-assisted research summary: This section identifies a loan agreement between Nohanga Consolidated Copper Mines Limited and Standard Chartered Merchant Bank Limited for £3,000,000, described as about K4,986,600.

2. The Agreement dated 23rd January, 1981, between Nohanga Con solidated Copper Mines Limited (as Borrower) and Standa.rd Chartered Merchant Bank Limited (as Lender) for a loan of three million pounds sterling (£3,000,000) which is about four million nine hundred and eighty-six thousand six hundred Kwaoha (K4,986,600).
3
The Agreement dated 5th December, 1981. between Nohanga. Con
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AI-assisted research summary: This provision identifies an agreement between Nohanga Consolidated Copper Mines Limited and Mitsui and Company Limited for a loan of US$30,000,000 (about K26,799,000).

3. The Agreement dated 5th December, 1981. between Nohanga. Con. solidated Copper Mines Limited (as Borrower) ·and :Mitsui and Company Limited (as 1.ender) for a. loan of thirty million United Sta.tea Dollars (US530,000,000) which is about twenty-six million seven hundred and ninety nine thouaa.nd ICwa�he. (K26,799,000).
4
The Agt�ment dated 5th December, 1981, between Nohe.nga Con•
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AI-assisted research summary: This provision identifies a loan agreement and states the loan amount in US dollars and an approximate Kwacha equivalent.

4. The Agt�ment dated 5th December, 1981, between Nohe.nga Con• solidated Copper Mines Limited (as Borrower) and Mitsubishi Corporation (as Lender) loan of twenty-five million United States Dollars (USS25,000,000) which is about twenty:two million three hundred and· thirty two thousand five hundred Kwaoh• (K22,332,500). for a '·- ... _ ' .. •· .. . . ' ....... -� . . ' .. ·-· _ .. ,

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Income Tax (Foreign Organisations) (Exemption Approval) (No. 3) Order 1982

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Provisions of Income Tax (Foreign Organisations) (Exemption Approval) (No. 3) Order 1982

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Provisions of Income Tax (Foreign Organisations) (Exemption Approval) (No. 3) Order 1982

SCHEDULE­

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