Zim-Belarus sign agreement to curb double taxation

A lion of a tractor: Lukashenko, Zimbabwean president exchange gifts - World - TASS

Zim Now Writer

The government of Zimbabwe today signed an agreement on avoidance of double taxation and prevention of tax evasion with respect to taxes on income and property.

The main objectives of the agreement are distribution of taxation rights between the two countries, elimination of double taxation and exchange of information between tax authorities.

According to the Belarusian Taxes and Duties Ministry, the agreement is aimed at regulating taxation relations between the two states and facilitating the development of trade and economic cooperation on mutually beneficial terms.

The two leaders believe that bilateral cooperation can bring practical results.

President Emmerson Mnangagwa said the agricultural sector is one of the mainstays of the Zimbabwean economy and the country has ensured its food security.

“We are cooperating, helping each other in a practical way. We have a vision and a friend who shares it. And we achieved this with the support of my brother, Aleksandr Lukashenko,” President Mnangagwa said.

Lukashenko said he does not believe in talking but in working and they want the outcomes of cooperation to be appreciable and visible.

Aftrade DMSS and the government of Zimbabwe also signed contracts for the supply of Belarusian tractors and grain harvesting equipment, as well as Belarus-made equipment for the construction and upgrade of grain storage complexes.

A memorandum of understanding was also signed for supplies of Belarus-made machinery and equipment for the timber industry.