Clause 33
Amendment of section 43G
of Income Tax (Amendment No. 3) Bill
BillNot in forceProvision 33 of 64
Clause 33
Section 43G of the principal Act is amended —
(a)
by deleting the words “the rate of 10% or such other concessionary rate shall be levied and paid” in subsection (1) and substituting the words “the concessionary rate specified in subsection (1A) is levied and must be paid”;
(b)
by inserting, immediately after subsection (1), the following subsection:“(1A) In subsection (1), the concessionary rate is —
(a)
in the case of a Finance and Treasury Centre approved as such on or before 24 March 2016, 10%; or
(b)
in any other case, 8%.”; and
(c)
by deleting the words “31st March 2016” in subsection (5) and substituting the words “31 March 2021”.