Insurance Levy Act

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
REPUBLIC OF ZAMBIA
THE INSURANCE LEVY ACT
CHAPTER 341 OF THE LAWS OF ZAMBIA
CHAPTER 341 THE INSURANCE LEVY ACT
THE INSURANCE LEVY ACT
ARRANGEMENT OF SECTIONS
Section
1. Short title
2. Interpretation
3. Powers of Commissioner-General
4. Insurance levy
5. When levy becomes due
6. Exemptions
7. Recovery of levy
8. Penalty for late payment
9. Regulations
CHAPTER 341
INSURANCE LEVY Act No.
25 of 1990

vy
5. When levy becomes due
6. Exemptions
7. Recovery of levy
8. Penalty for late payment
9. Regulations
CHAPTER 341
INSURANCE LEVY Act No.
25 of 1990

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
An Act to provide for the imposition, payment and collection of an insurance levy
and to provide for matters connected with or incidental to the foregoing. [1st February, 1991
1. This Act may be cited as the Insurance Levy Act.*(1) Short title
2. (1) In this Act, unless the context otherwise requires-
"Commissioner-General" has the meaning assigned to it in the Zambia Revenue
Authority Act;
"broker", "insurance agent", "insurance business", "insurer" and "policy" have the
meanings assigned to them in the Insurance Act;
"levy" means the insurance levy charged under section four of this Act. Interpretation
Cap. 321
Cap. 392
(2) In this Act, unless the context otherwise requires, words and expressions not
defined shall have the meaning assigned to them in the Value Added Tax Act. Cap. 331
3. The Commissioner-General shall, subject to the direction of the Minister, be
responsible for giving effect to the provisions of this Act, and shall, for that purpose, have
all the powers conferred on the Commissioner-General by the Zambia Revenue Authority
Act. Powers of
Commissioner
Cap. 321
4.

l, for that purpose, have
all the powers conferred on the Commissioner-General by the Zambia Revenue Authority
Act. Powers of
Commissioner
Cap. 321
4.

There shall be charged, levied, collected and paid, on insurance premiums in
respect of insurance policies for all classes of insurance business carried on by insurers,
insurance agents or brokers a ten per centum ad valorem insurance levy. Insurance levy
5. The levy shall become due at the time when the insurance premiums are paid or
become payable and shall be paid by the insurer, insurance agent or broker to the
Commissioner-General not later than the twenty-first day of the first month following that in
which the levy becomes due. When levy becomes
due
6. (1) Obsolete. Exemptions
Cap. 331
P. 27
(2) The Minister may, by statutory order, exempt any person from the payment of
the levy. 7. Subject to the provisions of this Act, the Value Added Tax Act shall, mutatis
mutandis, apply to the recovery of the levy under this Act. * This Act came into operation on the 1st January, 1991. Recovery of levy
Cap. 331

mutatis
mutandis, apply to the recovery of the levy under this Act. * This Act came into operation on the 1st January, 1991. Recovery of levy
Cap. 331

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
8. Where any amount of levy is not paid within the period prescribed by section
five, a penalty equal to five per centum of the unpaid amount shall be charged for each
month or part thereof for which the insurance levy remains unpaid; and for the purposes of
recovery and collection such penalty shall be deemed to be part of the levy.
Penalty for late
payment
9. The Minister may, by statutory instrument, make regulations for the proper
carrying out of the purposes of this Act.
Regulations

The Laws of Zambia
Copyright Ministry of Legal Affairs, Government of the Republic of Zambia
Endnotes
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* This Act came into operation on the 1st January, 1991.