Income Tax (Foreign Organisations) (Exemption Approval) Order, 1983

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Jurisdiction: Zambia
Instrument: Statutory instrument
Citation: SI 43 of 1983
Version: 22 Apr 1983
Language: en
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credit facility loan agreement tax exemption

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This section gives the short title of the Order. Banco do Brasil, SA is approved for tax exemption for the Agreement described in the Schedule. The approved foreign organisation’s income and emoluments under the listed Agreement are exempt from tax. This schedule notes a credit agreement dated 13 July 1982 between the Bank of Zambia and Banco de Brasil SA for a US$30,000,000 facility, with an approximate kwacha equivalent of K28,302,000.

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Provisions of Income Tax (Foreign Organisations) (Exemption Approval) Order, 1983

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1
This Order may be cited as the Income Ta.x (Foreign
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AI-assisted research summary: This section gives the short title of the Order.

1. This Order may be cited as the Income Ta.x (Foreign Organisations) (Exemption Approval) Order, 1983. Title
2
With respect to the Agreement described in the Schedule
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AI-assisted research summary: Banco do Brasil, SA is approved for tax exemption for the Agreement described in the Schedule.

2. With respect to the Agreement described in the Schedule hereto, Banco do Brasil, SA is hereby approved for the pw·pose of exemption from tax. Approval of fo1·oigu organisations
3
The income and emoluments of the foreign organisation
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AI-assisted research summary: The approved foreign organisation’s income and emoluments under the listed Agreement are exempt from tax.

3. The income and emoluments of the foreign organisation approved in para.graph 2 of this Order accruing under the Agreement described in the Schedule hereto, shall be exempted from tax pursuant to sub-paragraph (c) of para.graph 4 of Pa.rt II of the Second Schedule to the Act. Exemption from tax LUSAKA
1
,th April, 1983
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AI-assisted research summary: This schedule notes a credit agreement dated 13 July 1982 between the Bank of Zambia and Banco de Brasil SA for a US$30,000,000 facility, with an approximate kwacha equivalent of K28,302,000.

1.,th April, 1983 [SF.233] N. MUNDTA, Minister of Finance SCHEDULE (Paragraph 2) Aont:F:MCNT Tho Cr,idit AgroomJut doted 13th July, 1282, botwoon tho Rank of Zambia (os Borrower) and thn Banco clo Bra'lil 8A (us Lt>11dor), fnr I\ orodit facility in tho sum of thirty million Onitocl 8l-l\tcs Dollal's (US S:10,000.000.00) which is np(}I'O'<im•ltoly twenty-eight mi 11100, th.roe hundred ao<l two tJ1ousand kwacba (K28,30 ',000.00.) Oopiu of thw Stalutory lnatrumem can be obiain«l from tl.6 GoverntTlffll Prinw, P.O. Box 30136, Lwaka. Priu lOn eadl. 120 Statutary lnBtruments 22nd April, 1983

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Income Tax (Foreign Organisations) (Exemption Approval) Order, 1983

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Provisions of Income Tax (Foreign Organisations) (Exemption Approval) Order, 1983

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