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

(a) introduce income tax concessions for public-private partnership projects in the railway sector;

(b) remove carry forward time limitation of disallowed interest;

(c) increase the amount allowed as a deduction for a business that employs a person with disability to two thousand five hundred Kwacha per annum from two thousand Kwacha per annum;

(d) extend the requirement to keep books of account in United States Dollars to a person carrying out mineral processing;

(e) allow a business that qualifies for voluntary registration under the Value Added Tax Act, Cap. 331 to register for turnover tax;

(f) increase the turnover tax threshold for artisanal and smallscale mining from eight hundred thousand Kwacha to five million Kwacha to align with the standard turnover tax threshold;

(g) align the legal framework with international standards governing disclosure of information received under an international agreement in respect of exchange of information;

(h) reduce the penalty for an overdue payment of turnover tax from five percent per month or part of the month to zero point five percent per month or part of the month; (i) introduce an anti-fragmentation rule that treats related business activities carried out by an enterprise at one or more fixed locations in the Republic, as a single permanent establishment, where the combined business activities  are not of a preparatory or auxiliary nature; (j) extend the charging of advance income tax on foreign remittances above two thousand United States Dollars to financial institutions and other platforms;