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Guy Scott signs into law 8 bills

JIMMY CHIBUYE & CAROLINE KALOMBE, Lusaka
ACTING President Guy Scott has assented into law eight amended bills, among them the Mines and Mineral Development Act, Zambia Revenue Authority (ZRA) Act, Value Added Tax (VAT), Customs and Excise, Property Transfer Tax, Income Tax and the Local Government Act.
The bills, which will come into operation on January 1, were assented to on December 23 this year after they were enacted by parliament and authenticated by Speaker of the National Assembly Patrick Matibini.
According to documents obtained yesterday, Dr Scott has assented to the amendment of the Mines and Minerals Development Act 2008 which provides that a holder of a large-scale mining licence, large scale gemstone licence, small scale mining licence, small-scale gemstone licence or an artisan’s mining right shall pay a mineral royalty at the rate of 20 percent for opencast mining operations and eight percent for underground mining operations.
The Mines and Minerals Development Amendment Act 2014  shall be read as one with the Mines and Minerals Development Act 2008, referred to as the principal Act.
The amended Act provides that mineral royalty payable on industrial minerals shall be at six per cent of the gross value of the minerals produced or recoverable under the licence.
The amendment Act also provides that a person who is not a holder of a mining right or licence who extracts minerals or is in possession of minerals extracted in the republic is liable to pay mineral royalty.
The rate will be six percent of the gross value for industrial minerals and 20 percent of the norm or gross value for other minerals.
Meanwhile, subsection four says that where the commissioner-general determines that the realised price does not correspond to the price that would have been paid for the minerals if they had been sold on similar terms in a transaction at arm’s length, between a willing seller and a willing buyer; the commissioner-general may give a notice to that effect to the licensee and the amount of the gross value shall be determined in accordance with the mechanism contained in sections A to 97 D of the Income Tax Act.
And the ZRA Act has also been amended and is now cited as the Zambia Revenue Authority (Amendment) Act 2014, and shall be read as one with the Zambia Revenue Act, referred to as the principal Act.
The principal Act is amended by the insertion immediately after section five.
Section 5 (A) says that notwithstanding anything to the contrary contained in any written law, where a judgment or court order is obtained against the Authority, no execution, attachment or process of any nature shall be issued against the Authority or against any of its property.
It further reads that the Minister or the commissioner-general shall cause to be paid out of the general revenue of the republic or revenue of the authority such amounts of money as may, by judgment or court order, be awarded against the ZRA to the person entitled to the money.
The principal VAT Act is amended by the repeal and replacement of Sections 15.




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