Switzerland and Zambia aim to further develop their economic relationship and to enhance their cooperation in tax matters. In particular, the agreement makes provision for dividends being taxed at source at a maximum rate of 15% and qualified participations being taxed at no more than 5%. With regard to interest, the withholding tax rate is generally 10% and for taxes the rate is 5%.
The new agreement was signed by Ambassador of Switzerland to the Republic of Zambia H.E. Arthur Mattli and Zambia’s Finance Minister Hon. Felix C. Mutati in Lusaka.