14(2)(a)(vi)
$4 740 000 001 to $6 000 000 000 .....................................................45
14(2)(a)(vii) $6 000 000 001 and above..................................................................
47,5”.
(c) with effect from the year of assessment beginning on the 1st January, 2004, by the
deletion from the items relating to the nature of taxable income of the item referring to
section 14(2)(f) and the substitution of—
“14(2)(f)
Taxable income of holder of special mining
lease………………………………………………..
15”.
Amendments to Income Tax Act [Chapter 23:06]
7
Amendment of section 2 of Cap. 23:06
With effect from the 1st January, 2007, section 2 (“Interpretation”)(1) of the Income Tax Act
[Chapter 23:06] is amended in the definition of “year of assessment” by the insertion of the
following proviso after proviso (v)—
(vi) the year of assessment beginning on the 1st January, 2007, in respect of the
taxable income from employment of a person other than a company, a trust or a
pension fund, consists of the following three periods—
A. the six-month period beginning on the 1st January, 2007, and ending on
the 30th June, 2007;
B. the two-month period beginning on the 1st July, 2007, and ending on the
31st August, 2007;
C. the four-month period beginning on the 1st September, 2007, and ending
on the 31st December, 2007.”.
8
Amendment of section 8 of Cap. 23:06
Section 8 (“Interpretation of terms relating to income tax”)(1) of the Income Tax Act
[Chapter 23:06] is amended in the definition of “gross income” with effect from the year of
assessment beginning on the 1st January, 2007—
(a) in paragraph (f) II—
(i) in proviso (xi) where it is so numbered for the first time by the deletion of “in
respect of the period beginning on the 1st January, 2007, and ending on the 30th
June, 2007, and 31st August, 2007, 31st December, 2007, of the year of
assessment beginning on the 1st January, 2007,” and the substitution of “in
respect of the period beginning on the 1st January, 2007, and ending on the 31st
August, 2007,”;
(ii) in proviso (xi) where it is so numbered for the second time—
A. by the renumbering it as proviso (xii);
B. by the deletion of “and any subsequent year of assessment,”;
(iii) by the insertion after proviso (xii) of the following proviso—