Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698831656474.pdf (Zambia)
Property Transfer Tax (Amendment) [ No.

16 of 2015 425 GOVERNMENT OF ZAMBIA ACT No.

16 of 2015 Date of Assent: 17th December, 2015 An Act to amend the Property Transfer Tax Act.

[24th December, 2015 ENACTED by the Parliament of Zambia.

1.

(1) This Act may be cited as the Property Transfer Tax (Amendment) Act, 2015, and shall be read as one with the Property Transfer Tax Act, in this Act referred to as the principal Act.

(2) This Act shall come into operation on 1st January, 2016.

2.
2.

Section two of the principal Act is amended by the deletion of the words “Mines and Minerals Development Act, 2008” wherever they appear and the substitution therefor of the words “Mines and Minerals Development Act, 2015”.

3.

Section three of the principal Act is amended in subsection (2), by the deletion of the word “Direct” and the substitution therefor Enactment Short title and commencement Cap.

340 Amendment of section 2 Act No.

7 of 2008 Act No.
7 of 2008 Act No.

11 of 2015 Amendment of section 3 of the word “Domestic”.

4.

Section four of the principal Act is amended by the deletion of subsection (2) and the substitution therefor of the following: Amendment of section 4 (2) The rate of tax is — (a) ten per cent of the realised value in respect of a mining right or an interest in the mining right; Copies of this Act may be obtained from the Government Printer, P.O.

Box 30136, 10101 Lusaka.

Price K2.00 each.

426 No.


16 of 2015] Property Transfer Tax (Amendment) (b) five percent of the realised value in respect of land; and (c) five percent of the realised value in respect of shares.

Amendment of section 6 5.

Section six of the principal Act is amended by the deletion in subsection (1), of paragraph (d) and the substitution therefor of the following: (d) any public benefit organisation or trust listed as such Cap.

323 under the Income Tax Act;