FINANCE (No. 2) 2014 Act [Chapter 23 :06] is amended in the definition of "contract" by the deletion of "five hundred thousand dollars or more or, where the contract is denominated in foreign currency, two hundred and fifty United States dollars or more" and the substitution of "an aggregate amount of two hundred and fifty United States dollars or more over the year of assessment". 4 5 Amendment of section SOB of Cap. 23:06 With effect from the 1st October, 2014, section SOB ("Payments to non-resident artists or entertainers") of the Income Tax Act [Chapter 23:06] is amended (a) (b) by the deletion of "artists" and "artist" wherever it occurs and the substitution of "artistes" and "artiste" respectively; to by the insertion of the following subsection after subsection (5)"(6) Payment to the Commissioner by a withholding agent of any amount as provided in subsection (2) shall be accompanied by a certificate under the hand of the withholding agent showing the amount withheld. 15 (7) Subject to subsection (9), a withholding agent who fails to withhold or pay to the Commissioner any amount as provided in subsection (2) shall be personally liable for the payment to the Commissioner, not later than the date on which payment should have been made in terms of subsection (2) of- 20 (a) the amount so provided; and (b) a further amount equal to such amount. (8) The amounts for the payment of which a withholding agent is liable in terms of subsection (7)(a) shall be debts due by the principal to the State; and (b) may be sued for and recovered by action by the Commissioner in any court of competent jurisdiction. (9) The Commissioner, if he or she is satisfied in any particular case that the failure to pay to him or her any amount as provided in subsection (2) was not clue to any intent to evade the provisions of this section, may waive the payment of the whole or such part as he or she thinks fit of the amount referred to in subsection (7)(b) .". 5 25 30 Amendment of Third Schedule to Cap. 23:06 The Third Schedule ("Exemptions from Income Tax") to the Income Tax Act [Chapter 23:06] is amended- (a) 35 in paragraph 2 by the repeal of subpm·agraph (c) and the substitution of"( c) building societies, and financial institutions providing mortgage finance, but only to the extent that the receipts or accruals of such finm1cial institutions are attributable to the provision of mortgage finance by them. 40 In this subparagraph"building society" means a building registered in terms of the Building Societies Act [Chapter 24:02]; "financial institution" mean s any banking institution registered in tenus of the Banking Act [Chapter 24:20]; 4 45