Unconsolidated

Status: 
Active

The Pension Scheme Regulation (Amendment) Bill, 2022.

The object of this Bill is to amend the Pension Scheme Regulation Act so as to provide for the approval of pension scheme rules by the Pensions and Insurance Authority.

The Property Transfer Tax (Amendment) Bill, 2022

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;

The Value Added Tax (Amendment) Bill, 2022.

The object of this Bill is to amend the Value Added Tax Act, so as to

(a) revise the definition of “commercial property”;

(b) provide clarity on crediting of input tax;

(c) revise the penalty for tax evasion; and

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

The Customs and Excise (Amendment) Bill, 2022

The object of this is to amend the Customs and Excise Act so as to—

(a)  revise the rates of customs and excise duty payable on certain goods;

(b)  revise the list of goods to be subject to surtax at importation;

(c)  provide for the use of electronic fiscal device in the administrationof excise duty;

(d)  reduce customs duty on electric motor vehicles and cycles and;

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

The Income Tax (Amendment) Bill, 2022

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

(a) increase the Pay As You Earn tax free threshold for an individual to fifty seven thousand six hundred Kwacha per annum from fifty four thousand six hundred Kwacha per annum, reduce the marginal tax rate for the second income bracket to twenty percent and adjust the income bands accordingly;

(b) increase tax credits for a person with disability to seven thousand two hundred Kwacha from six thousand Kwacha per annum;

The Penal Code (Amendment) Bill, 2022

The object of this Bill is to amend the Penal Code so as to—
(a) replace the death penalty with life imprisonment;
(b) repeal the offence of defamation of the President; and
(c) provide for matters connected with, or incidental to, the
foregoing.

The Criminal Procedure Code (Amendment) Bill, 2022

The object of this Bill is to amend the Criminal Procedure Code so as to replace
the penalty of death with life imprisonment and repeal the penalty of defamation
of the President

The Securities (Amendment) Bill, 2022

The object of this Bill is to amend the Securities Act, 2016 so as to —
(a) implement a risk based approach in the supervision and regulation of
capital markets;
(b) revise the supervisory powers of the Commission;
(c) provide corrective measures to an under-capitalised capital markets
operator;
(d) provide for the appointment of an auditor by a licensed person;
(e) revise the powers of the Capital Markets Tribunal;
(f) provide for the immunity of a member of the Capital Markets Tribunal,

The Zambia Institute of Banking and Financial Services Bill, 2022

The objects of this Bill are to—
(a) provide for the registration of banking and financial service
practitioners and regulate their practice and professional
conduct;
(b) continue the existence of the Zambia Institute of Banking
and Financial Services and provide for its functions;
(c) promote the banking and financial services profession;
and
(d) provide for matters connected with, or incidental to, the
foregoing.

The National Pension Scheme (Amendment) Bill, 2022.

The object of this Bill is to amend the National Pension Scheme Act so as to—
(a) revise the penalty rate for delayed payment of contributions;
(b) provide for a waiver of penalties arising from delayed payment of
contributions;
(c) provide for an option to claim for age benefits by a member under
pensionable age under the existing fund; and
(d) provide for matters connected with, or incidental to, the foregoing.
 

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