Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698831276013.pdf (Zambia)
THE PROPERTY TRANSFER TAX (AMENDMENT) BILL, 2021 MEMORANDUM The object of this Bill is to amend the Property Transfer Tax Act so as to— (a) provide for a ten percent property transfer tax rate on the transfer of a mineral processing licence; (b) provide clarity on the period for the exemption of property transfer tax on an indirect transfer of shares; (c) permit the filing of a return by proxy where the transferor may be dead, absent from the Republic or cannot be located; and (d) provide for matters connected with, or incidental to, the foregoing.
M. D. KABESHA, Attorney-General N.A.B.

44, 2021 9th December, 2021 Property Transfer Tax (Amendment) [No.

of 2021 3 A BILL ENTITLED An Act to amend the Property Transfer Tax Act.

ENACTED by the Parliament of Zambia 1.

(1) This Act may be cited as the Property Transfer Tax (Amendment) Act, 2021, and shall be read as one with the Property Transfer Tax Act, in this Act referred to as the principal Act.

5 (2) This Act shall come into operation on 1st January, 2022.

2.
2.

Section 2 of the principal Act is amended by the— (a) deletion of the definition of “property” and the substitution therefor of the following: 10 “property” means— Enactment Short title and commencement Cap.
340 Amendment of section 2 (a) (b) (c) (d) a land in the Republic; a share issued by a company incorporated in the Republic or a share issued by a company incorporated outside the Republic where the company directly or indirectly owns at least ten percent of the shares in a company incorporated in the Republic; a mining right issued under the Mines and Minerals Development Act, 2015, or an interest in the mining right; a mineral processing licence issued under the Mines and Minerals Development Act, 2015, or an interest in the mineral processing licence; and (e) intellectual property; and 15 20 Act No.
11 of 2015 Act No.

11 of 2015 N.A.B.

44, 2021 4 No.

of 2021] Property Transfer Tax (Amendment) Act No.

11 of 2015 Repeal and replacement of section 3 Functions and powers of Commissioner- General Cap.323 Amendment of section 4 (b) insertion of the following new definition in the appropriate place: “ mineral processing licence ” has the meaning assigned to the words in the Mines and Minerals Development Act, 2015;.

3.
3.

The principal Act is amended by the repeal of section 3 and the substitution therefor of the following: 3.

(1) The Commissioner General shall, subject to the direction of the Minister, be responsible for giving effect to the provisions of this Act and shall in exercising those functions have all the powers conferred on the Commissioner-General by the Income Tax Act.
(2) The Commissioner-General may, in writing and subject to conditions that the Commissioner-General may specify, delegate to an officer in the Authority any power conferred, or any duty imposed, on the Commissioner-General by this section.

4.
4.

Section 4 of the principal Act is amended— (a) in subsection (1B), by the insertion of the word “consecutive” immediately after the word “three” and (b) in subsection (2), by the— (i) insertion of the following new paragraph immediately after paragraph (a): (b) ten per cent of the realised value in respect of a mineral processing licence;; and 5 10 15 20 (ii) renumbering of paragraphs (b), (c) and (d) as paragraphs (c), (d) and (e), respectively.

25 Amendment of section 6 5.


Section 6 (1) of the principal Act is amended by the deletion of paragraph (d) and the substitution therefor of the following: Cap.

323 Amendment of section 9 (d) an exempt public benefit organisation in accordance with the Income Tax Act;.

30 6.
30 6.

Section 9 of the principal Act is amended by the insertion of the following new subsections immediately after subsection (1): (1A) Despite subsection (1), a person, other than the transferor of the property, shall be permitted to render a provisional return on behalf of the transferor where that person is— 35 (a) permitted to do so through a court order; or N.A.B.

44, 2021 Property Transfer Tax (Amendment) [No.


of 2021 5 (b) appointed as a proxy for the Registrar of the High Court, where the Registrar of the High Court is appointed by the court to render a provisional return on behalf of the transferor.

(1B) A person referred to in subsection (1A) shall be permitted to render a provisional return on behalf of the transferor if the transferor— (a) (b) (c) is deceased; is absent from the Republic; or cannot be located despite reasonable efforts to do so.

5 10 N.A.B.
5 10 N.A.B.

44, 2021 6