The UK and Zambia have signed an updated Double Taxation Agreement regarding the levying of tax on the same declared income, asset or financial transaction, replacing the previous agreement which dated from 1972.

At the signing ceremony, James Thornton, British High Commissioner to Zambia, said: 'The new agreement takes account of changes in the taxation policies of both our countries, and of international developments in this field.'>

In particular the revised agreement, signed earlier this month, includes a new provision for the exchange of information between the two countries' financial authorities to help combat tax evasion.