What is Cooperative?
A cooperative is “an autonomous association of persons united voluntarily to meet their common economic,
social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise”.
How To Register A Cooperative In Zambia
To register a co-operate the applicant has to contact the Companies and Intellectual Properties Commission (CIPC).
Application form CR1, CR4, CR1, and CR8 has to be filled and submitted along with the model constitution. You would have to submit one copy of the form and 2 copies of the constitution.
How many people are required to form a cooperative in Zambia?
Organize yourselves in a group of ten or more persons or two or more societies wishing to form a cooperative society.
Once you have met the number of formations, conduct a general meeting and let the agenda of the meeting be in line with agreeing on forming the cooperative society.
Do cooperatives pay taxes in Zambia?
The taxation of cooperatives is covered under part III of the Second Schedule of the Income Tax Act, Cap 323 of the Laws of Zambia.
There is a general misconception about cooperatives that they are exempt from income tax.
What are the benefits of cooperatives in Zambia?
Cooperative-affiliated households have more assets, more land, and higher yields than households without cooperative membership.
Zambian agricultural cooperatives most often provide collective benefits by decreasing transportation costs.
What are the types of cooperatives in Zambia?
1) Retail Cooperatives. Retail Cooperatives are a type of “consumer cooperative” which help create retail stores to benefit the consumers making the retail “our store”.
2) Worker Cooperatives.
3) Producer Cooperatives.
4) Service Cooperatives.
5) Housing Cooperatives.