Zambia Act or statute

Zambia legislation

Property Transfer Tax (Amendment) Act, 2010

anti-avoidancecommencementTax lawtax act amendmenttax adjustmentstax administration

Jurisdiction: Zambia
Structure: 4 provisions
Citation: Act 50 of 2010
Dates: Undated source snapshot

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Dates: Undated source snapshot

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“This section names the Act, says it must be read together with the principal Act, and states when it starts to operate.”

This section names the Act, says it must be read together with the principal Act, and states when it starts to operate. This amendment changes a percentage in subsection (2) from three percent to five percent. This provision amends the principal Act by inserting a new section after section 9A. The Commissioner-General may direct tax adjustments to counteract a transaction used mainly to avoid or reduce tax, if that direction is considered just and reasonable.

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(!) This Act may be cited as the Property Transfer Tax

This section names the Act, says it must be read together with the principal Act, and states when it starts to operate.

Section 1

Section/our of the principal Act is amended in subsection

This amendment changes a percentage in subsection (2) from three percent to five percent.

Section 2

The principal Act is amended by the insertion immediately

This provision amends the principal Act by inserting a new section after section 9A.

Section 3

Section 9B

The Commissioner-General may direct tax adjustments to counteract a transaction used mainly to avoid or reduce tax, if that direction is considered just and reasonable.

Section 9B

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Source record from zambialii.org · Undated source snapshot

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Showing 4 of 4 provisions

Amendment 2CommencementSubstitution

§ 1(!) This Act may be cited as the Property Transfer TaxCommencement

This section names the Act, says it must be read together with the principal Act, and states when it starts to operate.

1. (!) This Act may be cited as the Property Transfer Tax (Amendment)Act, 2010, 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 !st April, 2011, and subject to any provisions to the contrary, shall have effect in relation to the charge of tax for the charge year ending on 3 I" March, 2012, and in relation to each subsequent charge year.

Section 1Verify source

§ 2Section/our of the principal Act is amended in subsectionSubstitution

This amendment changes a percentage in subsection (2) from three percent to five percent.

2. Section/our of the principal Act is amended in subsection (2) by the deletion of the words "three percent" and the substitution therefor of the words "five percent".

Section 2Verify source

§ 3The principal Act is amended by the insertion immediatelyAmendment

This provision amends the principal Act by inserting a new section after section 9A.

3. The principal Act is amended by the insertion immediately after section nine A of the following new section:

Section 3Verify source

§ 9BSection 9BAmendment

The Commissioner-General may direct tax adjustments to counteract a transaction used mainly to avoid or reduce tax, if that direction is considered just and reasonable.

9B. (I) Where the Commissioner-General has reasonable grounds to believe thatthe main purpose or one of the main purposes for which any transaction was effected was the avoidance or reduction of liability to tax for any charge year, or that the main benefit which might have been expected to accrue from the transaction within the three years immediately following the completion thereof, was the avoidance or reduction of liability to tax, the Commissioner-General may, if the Commissioner-General determines it to be just and reasonable, direct that such adjustments shall be made as respects liability to tax as the Commissioner General considers appropriate to counteract the avoidance or reduction of liability to tax which would otherwise be effected by the transaction. (2) Without prejudice to the generality of the powers conferred by subsection (I), the powers conferred thereby extend to- (a) the charging with tax the income of persons who, but for the adjustments, would not be chargeable with any tax or would not be chargeable to the same extent; and Single copies of this Act may be obtained from the Government Printer P.O. Box 30136, 10101 Lusaka. Price K1,000 718 No. 50 of 2010] Property Transfer Tax (Amendment) (b) the charging of a greater amount of tax than would be chargeable but for the adjustments. (3) Any direction of the Commissioner-General under this section shall specify the transaction giving rise to the direction and adjustments as respects liability to tax which the Commissioner-General considers appropriate.

Section 9BVerify source

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principal Act
Section 3

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