As previously reported Zambia's 2022 Budget was delivered to the National Assembly on 29 October 2021. Zambia's Revenue Authority (ZRA) has since published an overview of tax changes in the 2022 Budget. In addition to the revenue measures reported, the ZRA overview also covers "housekeeping measures" in relation to the Transfer Pricing Regulations, which are summarized as follows:
Amend Regulation 22A (5) part (iii) to replace the words "system failure" with "systemic failure".
This measu…