Property Transfer Tax (Amendment) Act, 2025

This section gives the Act’s short title and says it starts on 1 January 2026.

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Jurisdiction: Zambia
Instrument: Act or statute
Citation: Act 21 of 2025
Version: Undated source snapshot
Language: en
Official source: View official record ↗

group reorganisation legislative amendment property transfer tax share transfer valuation share transfers short title

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This section gives the Act’s short title and says it starts on 1 January 2026. The Commissioner-General may set a transfer of shares at nil value if the transfer is for a group reorganisation and the relevant companies have been in the group for at least three years. This provision amends section 6(1) of the principal Act by replacing paragraph (h) with a rule about shares surrendered or forfeited for no consideration.

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Legal text

Provisions of Property Transfer Tax (Amendment) Act, 2025

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1
(1) This Act may be cited as the Property Transfer Tax
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AI-assisted research summary: This section gives the Act’s short title and says it starts on 1 January 2026.

1. (1) This Act may be cited as the Property Transfer Tax (Amendment) Act, 2025, and shall be read as one with the Property Transfer Tax Act, in this Act referred to as the principal Act. Short title and commen- cement Cap. 340 (2) This Act shall come into operation on 1st January, 2026.
2
Section 5 of the principal Act is amended by the deletion of
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AI-assisted research summary: The Commissioner-General may set a transfer of shares at nil value if the transfer is for a group reorganisation and the relevant companies have been in the group for at least three years.

2. Section 5 of the principal Act is amended by the deletion of subsection (2B) and the substitution therefor of the following: Amendment of section 5 (2B) Despite subsection (2A), where the Commissioner- General is satisfied that a transfer of shares is made for the purposes of a group reorganisation, the Commissioner-General may determine a nil value for that transfer, except that this subsection shall only apply where the company transferring the shares and the company receiving the shares has been part of the group of companies, which is subject of the group reorganisation, for three years or more preceding the transfer.

Part

part of the group of companies, which is subject of the group

3
Section 6 (1) of the principal Act is amended by the deletion
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AI-assisted research summary: This provision amends section 6(1) of the principal Act by replacing paragraph (h) with a rule about shares surrendered or forfeited for no consideration.

3. Section 6 (1) of the principal Act is amended by the deletion of paragraph (h) and the substitution therefor of the following: Amendment of section 6 Copies of this Statutory Instrument can be obtained from the Government Printer, P.O. Box 30136, 10101, Lusaka, Price K4.00 each 310 No. 21 of 2025] Property Transfer Tax (Amendment) (h) the surrender or forfeiture of shares for no consideration where the Commissioner-General is satisfied that the surrender or forfeiture is not intended to avoid property transfer tax, except that a subsequent transfer to a different person shall be liable to property transfer tax.

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