Zambia: Transfer pricing measures included in 2022 budget

The 2022 budget includes proposals with regard to transfer pricing.

The 2022 budget includes proposals with regard to transfer pricing.

The Minister of Finance in late October 2021 presented the 2022 budget that includes proposals with regard to transfer pricing.

  • One measure proposes to amend the transfer pricing regulations by introducing two new schedules requiring taxpayers to provide a list of entities that are part of the multinational group as well as the nature of activities of the respective entities (generally in line with the international obligations for country-by-country (CbC) reporting).
  • Another measure proposes to introduce a CbC reporting threshold for transfer pricing. The single Kwacha denominated CbC threshold for which multinational enterprises are required to report would be amended to only reflect the Kwacha amount of ZMW 4.795 billion (approximately U.S. $269 million).
  • A proposal intends to clarify when a domestic entity is not required to file a CbC report.

Read a 2021 report [PDF 2.8 MB] prepared by the KPMG member firm in Zambia

 

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