Property Transfer Tax (Amendment)

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. 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
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:
(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;
Property Transfer Tax (Amendment) [ No. 16 of 2015 425
Enactment
Short title
and
commencement
Cap. 340
Act No. 7 of
2008
Act No.

in the mining right;
Property Transfer Tax (Amendment) [ No. 16 of 2015 425
Enactment
Short title
and
commencement
Cap. 340
Act No. 7 of
2008
Act No.

11 of
2015
Amendment
of section 3
Amendment
of section 4
Amendment
of section 2
GOVERNMENT OF ZAMBIA
ACT
No. 16 of 2015
Date of Assent: 17th December, 2015
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.
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
under the Income Tax Act;Cap. 323
Amendment
of section 6