The Moblie Money Transactions Levy Act, 2024

THE MOBILE MONEY TRANSACTION LEVY
ACT, 2024
ARRANGEMENT OF SECTIONS
Section
1. Short title and commencement
2. Interpretation
3. Administration of Act
4. Powers of Commissioner-General
5. Imposition of levy
6. Exemption from payment of levy
7. Record of mobile money operations
8. Inspection of mobile money operations
9. Administrative Rules
10. Regulations
11. Repeal of Act No.16 of 2023 and savings and transitional
provisions
SCHEDULE
Mobile Money Transaction Levy [No. 25 of 2024 391
Single copies of this Act may be obtained from the Government Printer,
P.O. Box 30136, 10101 Lusaka, Price K16.00 each.

ction Levy [No. 25 of 2024 391
Single copies of this Act may be obtained from the Government Printer,
P.O. Box 30136, 10101 Lusaka, Price K16.00 each.

Enactment
An Act to provide for the administration of the Act; provide
for maintenance of records of mobile money operations;
provide for inspection of mobile money operations; repeal
and replace the Mobile Money Transaction Levy Act, 2023,
and provide for matters connected with, or incidental to,
the foregoing.
[ 26th December, 2024
ENACTED by the Parliament of Zambia.
1. This Act may be cited as the Mobile Money Transaction
Levy Act, 2024, and shall come into operation on 1st January,
2025.
2. In this Act, unless the context otherwise requires—
“Bank of Zambia” means the Bank of Zambia established
under the Constitution;
“betting” has the meaning assigned to the word in the Casino
Act;
“Commissioner-General” has the meaning assigned to the
words in the Zambia Revenue Authority Act;
Mobile Money Transaction Levy [No. 25 of 2024 393
Short title
and
commen-
cement
Cap.1
Cap. 157
Cap. 321
Interpretation
GOVERNMENT OF ZAMBIA
ACT
No. 25 of 2024
Date of Assent: 20th December, 2024

393
Short title
and
commen-
cement
Cap.1
Cap. 157
Cap. 321
Interpretation
GOVERNMENT OF ZAMBIA
ACT
No. 25 of 2024
Date of Assent: 20th December, 2024

“electronic money” means the store of monetary value
electronically represented by a claim on the mobile money
service provider that is—
(a) issued on receipt of funds in an amount not less in
value than the value of the electronic money
issued;
(b) stored on an electronic device;
(c) accepted as a means of payment by persons; and
(d) redeemable on demand;
“levy” means a mobile money transaction levy charged under
section 5;
“merchant” means a person or entity that accepts electronic
money as a means of payment for goods and services and
is registered with the Zambia Revenue Authority for tax
purposes, but does not include a person engaged in betting;
“mobile money service provider” means an entity that is
authorised by the Bank of Zambia to issue electronic
money against receipt of funds in accordance with the
National Payment Systems Act, 2007;
“person to person transfer” means a transfer of electronic
money from one person to another person;
“repealed Act” means the Mobile Money Transaction Levy
Act, 2023; and
“Zambia Revenue Authority” means the Zambia Revenue
Authority established under the Zambia Revenue Authority
Act. 3.

y Transaction Levy
Act, 2023; and
“Zambia Revenue Authority” means the Zambia Revenue
Authority established under the Zambia Revenue Authority
Act. 3.

This Act shall be administered by the Zambia Revenue
Authority. 4. The Commissioner-General shall, for the purposes of
enforcing the provisions of this Act, have all the powers conferred
on the Commissioner-General by the Zambia Revenue Authority
Act and the Income Tax Act. 5. (1) Subject to the provisions of this Act, a mobile money
service provider shall collect a levy set out in the Schedule on a
person to person transfer. Act No.16 of
2023
Cap.321
Administration
of Act
Powers of
Commissioner-
General
Cap. 321
Cap. 323
Imposition of
levy
394 No. 25 of 2024] Mobile Money Transaction Levy
Act No 1 of
2007

tration
of Act
Powers of
Commissioner-
General
Cap. 321
Cap. 323
Imposition of
levy
394 No. 25 of 2024] Mobile Money Transaction Levy
Act No 1 of
2007

(2) The levy referred to under subsection (1) shall be paid by
the sender of the electronic money. (3) A mobile money service provider shall, within ten days after
the end of each month, submit a return of the levy collected to the
Commissioner-General in the manner determined by the
Commissioner-General. (4) A mobile money service provider shall, within ten days after
the end of each month, remit the total levies collected for that
month to the Commissioner-General. (5) A mobile money service provider that contravenes
subsections (3) or (4) is liable to pay to the Commissioner-General
a penalty of one hundred thousand penalty units for each month
or part thereof during which that contravention continues. (6) The Commissioner-General may waive the whole, or part,
of the penalty due under subsection (5) of this section. 6. The Minister may, by statutory instrument, exempt a person
from payment of a levy. 7. (1) A mobile money service provider shall keep and maintain
a record of the mobile money service provider’s operations for a
period of six years.

. 7. (1) A mobile money service provider shall keep and maintain
a record of the mobile money service provider’s operations for a
period of six years.

(2) Despite subsection (1), the Commissioner-General may,
before the expiry of the period referred to under subsection (1),
by notice in writing, extend the period of keeping and maintaining
a record of operations by a mobile money service provider. (3) A mobile money service provider that contravenes
subsection (1) is liable to pay the Commissioner-General a penalty
of two hundred thousand penalty units. (4) The Commissioner-General may waive the whole, or part,
of the penalty due under subsection (3). 8. (1) The Commissioner-General may, for the purposes of
enforcing the provisions of this Act, at any reasonable time, without
prior notice, enter any premises that the Commissioner-General
has reasonable grounds to believe is used contrary to the provisions
of this Act, and—
(a) inspect any records, article or document of a mobile
money service provider that has a bearing on an
inspection;
Exemption
from
payment of
levy
Record of
mobile
money
operations
Mobile Money Transaction Levy [No. 25 of 2024 395
Inspection
of mobile
money
operations

emption
from
payment of
levy
Record of
mobile
money
operations
Mobile Money Transaction Levy [No. 25 of 2024 395
Inspection
of mobile
money
operations

(b) verify the returns submitted in accordance with section 5
(3); or
(c) require the mobile money service provider to submit any
other information that the Commissioner-General may
consider necessary.
9. The Commissioner-General may issue administrative Rules
relating to—
(a) the keeping of books of accounts for mobile money
operations;
(b) the making of returns; and
(c) any other matter necessary for the administration of this
Act by the Commissioner-General.
10. The Minister may, by statutory instrument, make
Regulations for the better carrying out of the provisions of this
Act.
11. (1) The Mobile Money Transaction Levy Act, 2023 is
repealed.
(2) On commencement of this Act,—
(a) a mobile money service provider shall remit the total levies
collected for each month to the Zambia Revenue
Authority; and
(b) the Bank of Zambia shall transmit to the Zambia Revenue
Authority any records, returns or documents relating to
a levy remitted by a mobile money service provider
under the repealed Act.
Administrative
Rules
Regulations
Repeal of
Act No.16 of
2023 and
savings and
transitional
provisions
396 No. 25 of 2024] Mobile Money Transaction Levy

Administrative
Rules
Regulations
Repeal of
Act No.16 of
2023 and
savings and
transitional
provisions
396 No. 25 of 2024] Mobile Money Transaction Levy

SCHEDULE
(Section 5 (1))
CHARGEABLE RATES
Amount range (ZMW) Levy (ZMW)
From 0 to 150 0.16
Above 150 to 300 0.20
Above 300 to 500 0.40
Above 500 to 1000 1.00
Above 1000 to 3000 1.60
Above 3000 to 5000 2.00
Above 5000 to 10000 3.00
Above 10,000 3.60
Mobile Money Transaction Levy [No. 25 of 2024 397

398