No.I
2018
( 0)
in SliOSeCt ion (2) by the ins<.•rtion after paragraph (C) and of the folJmYing
paragraph-"( t'l) in respect of that part of the ta\.ahle income of a pom:r generation
project which is attributable to it" operations a~ such, for the first
li> c years after the 1st January, 201 X. at the percentage of each
dollar of that income specified in Part U of the Schedule in rc:-.pt'\:1
of those years, and thereafter at the rate specified therein;'".
3
Amendment of Schedule to Chapter I of Cap. 23:04
\\ ith effect from th<.' year of assessment beginning on the lst January. 2018, the
Schedule ("Credits and Rates of Income Tax") to Chapter I of the l·inancc Act IClwprl'r
23:041 is amendt~d in Parts II ("Rates of Income Ta\. on Ta\.able Income earned in
hlreign Currency") by the insertion after the item relating to SC\'tion 14.(2)(c) of the
following item-"14.(2)(el) Ta\.abk income of power generation pmjcct bcfon: the
end oft he tifth year of its operations as such
Ta\.ablc income of power generation project after the
lifth year of its operations as such .
4
0
. 15"
Amendment of section 228 of Cap. 23:04
Section 22B C ;\ utomated financial transactions tax") of the hnancc Act IChapter
23:041 is amended by the deletion of "for each transaction on which the ta\. is payable" and the substitution of "for each transaction exceeding ten l ·nitcd State dollars
on which the tax is payable."
5
Amendment of section 22G of Cap. 23:04
Section 22G ("Intennediated money transfer tax") of the Finance ,\ct [Chapter
2 3:041 is amended by the deletion of "for each transaction on which theta\. is payable"
and the substitution of"for each tran,saction exceeding ten l'nited State dollars on which
the tax is payable."
6
New section inserted in Cap. 23:04
\Vith effect from the year of assessment beginning on the 1st January, 201X, Part
III ("Rates of Income Tax and other Taxes !_.(:vied in Tenns of the Income Ta\. Act") of
Chapter l of the Finance Act [Chapter 23:04] is amended by the insertion after section
221 I of the following section-
"22M Bookmakers tax
The bookmakers tax chargeable in tenns of section 36 Lofthe Taxes
Act shall be calculated at the rate of three per centum of each dollar of
the gross monthly takings of the bookmaker in tenns of the Thi11y-Si\.th
Schedule to that Act.".
7
Amendment of Chapter X of Cap. 23:04
With ctlect from the lst January, 2018. Chapter X ("Rentals and Dt~velopment
Levies for State Land Allocated for Agricultural Puqxlscs") of the Hnance /\.ct !Chapter
23:041 is amended-(a)
in section -1-+ ("Development levy payable in respect of \lode! A I and
A2 farms") by the repeal of subsection (2) and the substitution of"(2) Every-