The Property Transfer Tax (Amendment) Bill No. 27 of 2024
Date of Introduction: 30th October 2024
Responsible: Solicitor General
Committee Responsible: Committee National Economy, Trade and Labour Matters.
Deadline for Submission of Comments: 21st November 2024
Contacts for submission of Comments: Email ZambiaLII; Email National Assembly or Visit the National Assembly Submission Portal
Issues addressed: The Property Transfer Tax (Amendment) Bill No 27 of 2024 seeks to amend Property Transfer Tax Act.
The Bill looks to revise the definition of intellectual property to include patents granted for an invention under the Patents Act, 2016; designs registered under the Industrial Designs Act, 2016; trademarks registered under the Trade Marks Act, 2023; and copyrights in a work registered under the Copyright and Performance Rights Act.
The Bill proposes that a money-lender and building society should be allowed to use the actual price received in determining the realised value for the disposal of foreclosed property.
Read the Bill.