For this purpose, "Property" includes:
• Any Land in Zambia (including any building);
• Any Building, Structure, or other improvements thereon;
• Any Share issued by a company in Zambia that is not listed on the Lusaka Stock Exchange (LUSE). All LUSE listed shares are therefore exempt from PTT.

Realised Value 
Property Transfer Tax is calculated on the realisable value of the property which is the price at which it could, at the time of transfer, be sold on the open market. For shares, the realisable value is the higher of the open market value or the nominal value.

Transfers to Immediate Family Members 
Where a person transfers his property to a member of his immediate family, the realised value of such property is the actual price received by the transferor, if any. This means such transfers will go at NIL value if no price has been charged (mere gift).

The term "immediate family" means:
" a spouse, child, duly adopted child or step- child"

Internal Reorganisation within a Group of Companies
Where, within a Group of Companies, a company transfers property to another company (other than a company which is not resident in Zambia) within the same group for the purposes of internal reorganisation of the Group, the Commissioner General may treat such transfer as having no realised value.

Exempt Organisations

Other Exemptions

(1) The transactions as a result of the sale or other disposal of any stock or share listed by the Lusaka Stock Exchange.
(2) Contribution towards the Equity for a company:
The Commissioner General may treat a transfer of property by a shareholder of a company incorporated under the Companies Act, if such transfer is his contribution towards the equity of that company.

For exemptions involving transfers of property between related persons, a DEED OF GIFT or DEED OF TRANSFER should be attached to the Property Transfer Tax returns.

For exemption applications involving the transfer of shares or other properties in a reorganisation, proof of number of shares through a share certificate should be attached. A group of companies exist where there is a Holding or Parent & Subsidiary company relationship. This should be established and proved. Mere assertion of existence of a Group does not suffice; neither is an application by ‘Sister Companies’ under common ownership/shareholding a basis of qualification for approval.

• Original Tax Receipt;
• Original Tax Clearance Certificate;
• Original PTT Return;
• Any proof that the transaction did not take place, (e.g. Confirmation from Registrars at the Ministry of Lands or Local Authorities, though confirmation will not be restricted to this);
• Formal letter of sale from the vendor, or their legal representatives.

Expired Certificates

Certificates are issued with a period of validity in order to ensure that the title passes whilst the assessment is still current. Certificates, which expire due to an unreasonable delay by any of the parties to the transfer, will be subjected to a reassessment of the realisable value. The higher of the original assessment and the reassessed value will be taken and additional tax, if any, demanded before the certificate is renewed.

• NRC/Certificate of Incorporation of both the BUYER & SELLER;
• State/Council CONSENT;
• Seller’s TPIN #;
• Contract of Sale/Deed of Gift or Transfer;
• Lawyer’s STAMP (where dealing as an Advocate of EITHER party);
• Order of Appointment of Administrator/Court Order (for ALL deceased cases);
• VALUATION REPORT (for ALL transactions above K500million).

Share Transfers:

• Share Transfer Form 27;
• Latest Financial Statements of the company in which the shares are held;
• Shareholders’ Resolutions.

GROUP Companies seeking NIL transfers via INTERNAL REORGANISATIONS will have to prove a GROUP STRUCTURE through Share Ownership Certificates.