Property Transfer Tax Zambia 2018

Social security contributions Employee contributions to NAPSA are capped at the lower of 5 of basic salary and ZMK 4697782 per annum.

Property transfer tax zambia 2018. 1 The following organizations are exempt from Property Transfer Tax. The Amendment Act amends certain provisions of the Property Transfer Tax Act Chapter 340 Principal Act. 11162018 Whenever property is being bought and sold the tax authorities in our case Zambia Revenue Authority ZRA demand a certain payment of tax known as Property Transfer Tax PTT.

Introduces property transfer tax in respect of intellectual property at the rate of 5. Property Transfer Tax Approval and Exemption Order. There is no gift tax in Zambia.

This section of the article is only available for our subscribers. Government imposed PTT on the value attributable to a Zambian company Realized Value where there is an indirect transfer of shares in a Zambian company. Property transfer tax 2 The rate of tax shall be two and one-half per centum of the realised value of the property.

The Property Transfer Tax Amendment Bill 2013. Any charitable organization or trust registered under section 41 of the Income Tax Act Cap 323. On 25 December 2018 the Zambian Industrial Property Office issued a legal notice regarding the application of the Property Transfer Tax Amendment Act 2017 on trade marks patents and Industrial designs.

The Government of the Republic of Zambia. 1 This Act may be cited as the Property Transfer Tax AmendmentAct 2017 and shall be read as one with the Property Transfer Tax Act in this Act referred to as the principal Act. Zambia Inheritances And Donations Estate duty was abolished.

2 This Act shall come into operation on 1st January 2018. Beginning 1 January 2018 however as Government sought to increase its tax base the position changed. PTT is levied at 10 on the transfer of mining rights.