CHAPTER 75:01 - Inland Revenue Division

Income Tax Act Mac 1
Vol. 1
Barbados
Guyana
Jamaica
PART V
SPECIAL PROVISIONS WHICH APPLY TO COMMONWEALTH
COUNTRIES PRESCRIBED FOR DOUBLE TAXATION PURPOSES
WHICH PROVISIONS WERE FORMERLY CONTAINED IN
SECTIONS 47(3), 48 AND 49 OF THE INCOME TAX ORDINANCE
CH.33 NO.1 BUT WERE REPEALED BY THE FINANCE ACT 1966
(ACT 29 OF 1966)
1. For the purposes of section 96(2) (in this Part referred to as "the section"),
the expression "rate of tax" when applied to tax paid or payable under this
Act, means the rate determined by dividing the amount of the tax paid or
payable for the year (before the deduction of any relief granted under this
section) by the amount of the income in respect of which the tax paid or
payable under this Act has been charged for that year, except that where
the income which is the subject of a claim to relief under this section is
computed by reference to the provisions of section 60 on an amount other
than the ascertained amount of the actual profits, the rate of tax shall be
determined by the Board.
Computation of rate of tax
2. If any person resident in Trinidad and Tobago who has paid by deduction
or otherwise, or is liable to pay tax, under this Act for any year of income
on any part of his income, proves to the satisfaction of the Board that he
has paid by deduction or otherwise, or is liable to pay, Commonwealth
income tax for that year in respect of the same part of his income, he shall
be entitled to relief from tax in Trinidad and Tobago paid or payable by
him on that part of his income at a rate thereon to be determined as
follows : -
Relief in respect of Commonwealth income tax - Residents
(a) if the Commonwealth rate of tax does not exceed one half of
the rate of tax appropriate to his case under this Act in Trinidad
and Tobago; the rate at which relief is to be given shall be the
Commonwealth rate of tax;
(b) in any other case the rate at which relief is to be given shall be
half the rate of tax appropriate to his case under this Act.
3. If any person not resident in Trinidad and Tobago who has paid by deduction
or otherwise or is liable to pay, tax under this Act for any year of in-
BIR Mac Edition 91/01 Page 167