The Property Transfer Tax (Amendment) Bill, 2022

Parliamentary Period: 
Second Session of the Thirteenth Assembly

The object of this Bill is to amend the Property Transfer Tax Act so as to—

(a) reduce the property transfer rate on the transfer of a mining right for an exploration licence to five percent from ten percent;

(b) provide clarity on a share in the mining sector to include an interest in a mining right and an interest in a mineral processing licence;

(c) provide clarity on the realised value in respect of the com- putation of property transfer tax on an indirect transfer of shares as a proportion of the value of the company incorporated in the Republic;

(d) exempt the surrender or forfeiture of shares from prop- erty transfer tax;

(e) permit the use of the actual price received in determining the realised value for the disposal of foreclosed prop- erty by a financial service provider; and

(f)provide for matters connected with, or incidental to, the foregoing.

Bill Stage: 
First Reading
Second Reading
Committee Stage
Report Stage
Third Reading