19 January 2018
   
ED and Zambia’s Lungu in ‘open talks’
African leaders wait for an apology from Trump
ED Shocker: Mugabe, 93, forgot he fired me
UK-ZIM: Mnangagwa exploits Brexit chance
MDC-T devastated by Bennet’s death
30 ZRP bosses fired, CIO spies too
Parliament: 11 G40 ministers, MPs fired
MDC-T’s Gutu scoffs at party HQ ban
MORE NEWS
SOE DEBATE: Privatise most parastatals
‘Mobile money tax will get dodger vendors’
MORE BUSINESS
Delight as ZBC 'Iron Lady' suspended
Sulu arrested over $4,000 child support
MORE SHOWBIZ
Tendai Ndoro special - says Ajax coach
Zim cricket official charged with fraud
MORE SPORTS
Elections: Not a moment to be lost
A view beyond the Zimbabwe coup
MORE OPINION
 
Mnangagwa off to Davos empty handed
Economy: the need for a paradigm shift
MORE COLUMNISTS
 
 

Zimbabwe scraps double taxation with China to boost cooperation

26/09/2016 00:00:00
by Xinhua
 
Visiting Chinese State Councilor Yang Jiechi (L) meets with Zimbabwe's Vice President Phelekezela Mphoko
 
RELATED STORIES

HARARE: THE government enacted a law last week to remove double taxation for individuals and firms doing business between Zimbabwe and China to boost economic cooperation between the two nations.

Under the Statutory Instrument, investors in any of the two states would only be taxed in their country of operation in a move that is also expected to improve the ease and cost of doing business for expatriate workers of both countries.

"Agreement shall apply to taxes on income imposed on behalf of Contracting States or of its local authorities, irrespective of the manner in which they are levied," reads part of the Statutory Instrument.

The law follows an agreement concluded between Zimbabwe and China early this year to relieve double taxation of income earned in one jurisdiction by the resident of the other.

The law also clarifies, standardizes and guarantees fiscal treatment of tax payers who engage in business in the two countries to protect them against double taxation.

Economic cooperation between Zimbabwe and China has grown steadily in recent years, with China now being Zimbabwe's biggest foreign investor and second largest trading partner.

Bilateral trade between the two countries reached 1.24 billion U.S. dollars in 2014



Advertisement


 
Email this to a friend Printable Version Discuss This Story
Share this article:

Digg it

Del.icio.us

Reddit

Newsvine

Nowpublic

Stumbleupon

Face Book

Myspace

Fark

 
 
 
comments powered by Disqus
 
RSS NewsTicker