On 29 August 2017, officials from Switzerland and Zambia signed an income tax treaty. The treaty will enter into force after the ratification instruments are exchanged, and once in force and effective, will replace the 1954 tax treaty between Switzerland and the UK as it applies in respect of Switzerland and Zambia (extended 1961).
Under the treaty, the withholding tax rate for dividends is 5% if the beneficial owner is a company that has held at least 10% of the paying company's capital fo…