Income Tax (Amendment) (No. 2) Act, 2015

This provision amends section 21 of the principal Act by adding the words “late retirement” after “normal retirement” in subsection 5(b).

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Jurisdiction: Zambia
Instrument: Act or statute
Citation: Act 19 of 2015
Version: Undated source snapshot
Language: en
Official source: View official record ↗

administrative appeals filing deadlines gambling winnings income classification income tax legislative drafting licensing listed companies mining property letting rate/figure update refunds return filing deadlines returns statutory amendment statutory text amendment tax amendment tax compliance tax disputes tax rates treasury bills withholding

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About this statute

This provision amends section 21 of the principal Act by adding the words “late retirement” after “normal retirement” in subsection 5(b). This provision amends section 30 of the principal Act by replacing the words "hydro and thenno power" with "electricity" in paragraph (a) of subsection (3). This provision changes a reference in section 43B of the principal Act: it replaces a citation to section 66 of the Mines and Minerals Act with a citation to the Mines and Minerals Development Act, 2015. Returns must be furnished to the Commissioner-General by 30 June for electronic returns and by 5 June for manual returns after the end of a charge year. This amendment sets filing deadlines for returns: electronic returns are due by 31 March of the charge year, and manual returns are due by 5 March of the charge year.

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Provisions of Income Tax (Amendment) (No. 2) Act, 2015

Showing 15 of 15

3
Section twenty-one of the principal Act is amended in
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AI-assisted research summary: This provision amends section 21 of the principal Act by adding the words “late retirement” after “normal retirement” in subsection 5(b).

3. Section twenty-one of the principal Act is amended in paragraph (b) of subsection ( 5) by the insertion, immediately after the words " normal retirement ", of a comma and the words " late retirement ". Amendment of section 21 Single copies of this Act may be obtained from the Government Printer, P.O. Box 30136, 10/01 Lusaka, Price K 6.00 each. 446 No. 19 of 2015 ] Income Tax (Amendment)(No. 2) Amendment of section 30
4
Section thirty of the principal Act is amended in paragraph
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AI-assisted research summary: This provision amends section 30 of the principal Act by replacing the words "hydro and thenno power" with "electricity" in paragraph (a) of subsection (3).

4. Section thirty of the principal Act is amended in paragraph (a) of subsection (3) by the deletion of the words " hydro and thenno power" and the substitution therefor of the word" electricity". Amendment of section 43B Act No. 11 of 2015
5
Section forty-three B of the principal Act is amended in
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AI-assisted research summary: This provision changes a reference in section 43B of the principal Act: it replaces a citation to section 66 of the Mines and Minerals Act with a citation to the Mines and Minerals Development Act, 2015.

5. Section forty-three B of the principal Act is amended in subsection (I) by the deletion of the words " section sixty-six of the Mines and Minerals Act " and the substitution therefor of the words "the Mines and Minerals Development Act, 2015 ". Amendment of section 46
6
Section forty-six of the principal Act is amended by the
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AI-assisted research summary: Returns must be furnished to the Commissioner-General by 30 June for electronic returns and by 5 June for manual returns after the end of a charge year.

6. Section forty-six of the principal Act is amended by the (a) deletion of subsection (3) and the substitution therefor of the following: (3) The return referred to in subsection(!) shall be furnished to the Commissioner-General- (a) in the case of an electronic return, not later than 30th June following the end of any charge year; and (b) in the case of a manual return, not later than 5th June following the end of any charge year.; and (b) deletion of subsection ( 4) and the renumbering of subsection (5) as (4). Amendment of section 46A
7
Section forty-six A of the principal Act is amended in
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AI-assisted research summary: This amendment sets filing deadlines for returns: electronic returns are due by 31 March of the charge year, and manual returns are due by 5 March of the charge year.

7. Section forty-six A of the principal Act is amended in subsection (3) by the deletion of paragraph (a) and the substitution therefor of the following: (a) in any charge year - (i) in the case of an electronic return, not later than 31 st March of the charge year to which the return relates; and (ii) in the case of a manual return, not later than 5th March of the charge year to which the return relates. Amendment of section 77
8
Section seventy-seven of the principal Act is amended by
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AI-assisted research summary: A person who receives income from letting property must pay any tax due within 14 days after the end of that month.

8. Section seventy-seven of the principal Act is amended by the insertion immediately after subsection ( 4) of the following: ( 4A) Any tax payable by a person on the income received from letting property is due and payable within fourteen days after the end of the month in which the income is received as provided in section five. Income Tax (Amendment)(No. 2) [No. 19 of2015 447
9
Section eighty-one B of the principal Act is amended by Amendment
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AI-assisted research summary: Licensing authorities must not issue certain trading or mining-related licences unless the applicant first produces a tax clearance certificate.

9. Section eighty-one B of the principal Act is amended by Amendment the deletion - (a) of subsections (2) and (3) and the substitution therefor of the following: (2) A person, institution or authority empowered to issue a trading licence under any written Jaw shall not issue the trading licence to an applicant unless the applicant produces a tax clearance certificate. of section SIB (3) A person, institution or authority empowered to issue an exploration licence, mining licence, mineral processing licence, gold pam1ing certificate, mineral trading permit or mineral import or export permit under the Mines and Minerals Act No. 11 Development Act, 2015, shall not issue the licence, of2015 certificate or permit to the applicant unless the applicant produces a tax clearance certificate.; and (b) in subsection (7), of the definition of" mining licence".
10
Section eighty- two A of the principal Act is amended in
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AI-assisted research summary: This amendment lets the Commissioner-General decide that certain section 82A income rules do not apply in a particular case and requires written notice to the affected person or partnership.

10. Section eighty- two A of the principal Act is amended in (a) subsection (1) by the deletion of paragraphs (a) and (g) and the substitution therefor of the following: Amendment of section 82A ( a) a management or consultant fee from a source within or deemed under section eighteen to be from a source within the Republic; (g) willilings from gaming, lotteries and betting other than winnings received by an individual by virtue of employment or office; and (b) subsection (2) by the deletion of paragraphs (b) and (c) and the substitution therefor of the following: (b) the payment of an amount in excess of the original issue price for a treasury bilJ sold at a discount from face value shall be deemed for the purposes of this section to be payment of interest when the treasury bill is presented for redemption or rediscount; (c) the Commissioner-General may determine that the provisions of paragraph (a), (b), (c) or (d) of subsection (1) do not apply in a particular case and shaIJ, in writing, notify the person or 448 No. 19 of 2015 ] Income Tax (Amendment) (No. 2) partnership concerned that the provisions of paragraph (a),(b), (c) or (d) of subsection (1 ), as applicable, do not apply to that person or partnership to the extent and to the period specified in the notification;. Repeal and replacement of section Ill
11
The principal Act is amended by the repeal of section one
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AI-assisted research summary: This section amends the principal Act by repealing section 111 and replacing it with new text.

11. The principal Act is amended by the repeal of section one hundred and eleven and the substitution therefor of the following:
111
A person dissatisfied with a decision of the
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AI-assisted research summary: A person dissatisfied with a Tribunal decision may appeal under the Tax Appeals Tribunal Act, 2015.

111. A person dissatisfied with a decision of the Tribunal may appeal against the decision in accordance with the Tax Appeals Tribunal Act, 2015 . Appeals from Tax Appeals Tribunal Act No.I of 2015 Amendment of section 112 Amendment of the First Schedule

Part

Schedule

12
Section one hundred and twelve of the principal Act is
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AI-assisted research summary: This section amends subsection (2) of section 112 of the principal Act by deleting the words “the High Court or”.

12. Section one hundred and twelve of the principal Act is amended in subsection (2) by the deletion of the words " the High Court or".
13
The First Schedule to the principal Act is amended by the
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AI-assisted research summary: Refunds to certain mining operators are treated as income in the year the refund is made.

13. The First Schedule to the principal Act is amended by the deletion of paragraph 9 and the substitution therefor of the following: Act No 11 of 2015 (9) Amounts refunded to any person carrying on mining operations pursuant to paragraph (a) of subsection 4 of section eighty-six of the Mines and Minerals Development Act, 2015, shall be deemed to be income in the year that the refund is made. Amendment of the Fourth Schedule
14
The Fourth Schedule to the principal Act is amended
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AI-assisted research summary: This provision amends the Fourth Schedule by replacing certain figures of 55 with 60, and one figure of 50 with 55.

14. The Fourth Schedule to the principal Act is amended (a) in paragraph 2 by the deletion- (i) in item (ii) of clause (b) of subparagraph (2), of the figure" 55" and the substitution therefor of the figure " 60 "; and (ii) in item (iii) of clause (a) of subparagraph (3), of the figure " 55" wherever it appears and the substitution therefor of the figure" 60 "; and (b) in paragraph 4 by the deletion- (i)in clause (b) of subparagraph (3), by the deletion of the figure" 55 "and the substitution therefor of the figure" 60 "; and (ii) in clause (c) of subparagraph (3), by the deletion Income Tax (Amendment) (No. 2) [No. 19 of2015 449 of the figure--- ( aa)" 55 " and the substitution therefor of the figure " 60 "; and (bb) " 50 " and the substitution therefor of the figure " 55 ".
15
The Fifth Schedule to the principal Act is amended
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AI-assisted research summary: This provision amends the Fifth Schedule to the principal Act.

15. The Fifth Schedule to the principal Act is amended- ( a) in subparagraph ( 5) of paragraph 10 by the insertion, immediately after the word " in ", of the words " electricity generation,"; and (b) in subparagraph (3) of paragraph 22 by the deletion of the words " one hundred and twenty two of the Mines and Minerals Development Act, 2008 " and the substitution therefor of the words " eighty-six of the Mines and Minerals Development Act, 2015 ".
16
The Charging Schedule to the principal Act is amended
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AI-assisted research summary: This section changes income tax rates for certain listed companies and sets a 10% maximum tax rate for income from letting property.

16. The Charging Schedule to the principal Act is amended (a) in subparagraph (1) of paragraph 3 by the deletion of clause (a) and the substitution therefor of the following: (a) on the income of any company whose shares are listed on the Lusaka Stock Exchange in the first year of its listing, at the rate of two per cent below the rates specified- Amendment of the Fifth Schedule Act No. 7 of 2008 Act No. 11 of 2015 Amendment of the Charging Schedule (i) in clauses (b), (c), (d) and (e) of this subparagraph; and (ii) in clauses (b), (c) and (d) of paragraph 5: Provided that- A. a company whose shares were listed on the Lusaka Stock Exchange prior to I st April, 2004, shall not qualify for the tax incentive referred to in this clause; B . where a company, whose shares are listed on the Lusaka Stock Exchange on or after I st April, 2004, offers and sells one third of its shares to indigenous Zambians in the year of 450 No. 19 of 2015 ] Income Tax (Amendment) (No. 2) listing, the income of that company shall be charged at an additional discounted rate of five per cent below the rates specified- (i) in clauses (b), (c), (d) and (e) of this subparagraph; and (ii) in clauses (b), (c) and (d) of paragraph 5;and C. where a company, whose shares are listed on the Lusaka Stock Exchange on or after 1 stApril, 2004, offers and sells one third of its shares to indigenous Zambians, the income of that company shall be charged at a rate of five per cent below the rates specified- (i) in clauses (b), (c), (d) and (e) of this subparagraph; and (ii) in clauses (b), (c) and (d) of paragraph 5; for the period that the one-third of the company's shares are owned by indigenous Zambians; and (b) in paragraph 5 by the insertion of the following new clause: (g) the maximum rate of tax for income received by a person from the letting of property shall be ten percent per annum. I • This printed impression has been carefitlly compared by me with the Bill which has passed the National Assembly, and found by me to be a true and correctly printed copy of the said Bill. Signed ..... ........ ........... . . ........................... . Speaker/Deputy Speaker/ Clerk of the National Assembly Date of Authentication:

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