The Union Cabinet today gave its approval for signing of an Agreement between India and Zambia for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income.

The Agreement will stimulate the flow of investment, technology and services from India to Zambia and vice versa. It will provide tax stability to the residents of India and Zambia and facilitate mutual economic cooperation.

Avoidance of double taxation: agreement to enhance cross-border investment, technology exchange and tax stability between the parties. Approval was granted for conclusion of an international agreement providing for Avoidance of Double Taxation and Prevention of Fiscal Evasion with respect to taxes on income between the two contracting states, creating tax stability for residents and facilitating cross-border investment, technology and services.