Tax proposal on the reinsurance premiums ceded by Zambia abroad
Zambia intends to apply a 5% tax on reinsurance premiums transferred abroad. The state could thus benefit from an annual income amounting to around 40 million ZMK (3 million USD).
The goal is twofold: to retain the maximum premiums on the local market and to reduce the outflow of foreign currency.
In 2016, 37% of the premiums underwritten on the Zambian insurance market - that is approximately 912 million ZMK (75 million USD) - were transferred abroad.
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Wed, 10/10/2018 - 14:19
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