CHAPTER 75:01 - Inland Revenue Division

Income Tax Act Mac 1
Vol. 1
(ii) that he has reached the age of sixty years.
but nothing in this subsection limits the effect of subsection (6)
(11) For the purposes of subsection (10) the Board of Inland Revenue may
require from the employee the production of a certificate from the National
Insurance Board to the effect that the requirements outlined in subsection
(10)(c) have been fulfilled. Act No. 25 of 1981
4 5A(1) For each year of income, there shall be levied and paid to the Board at
the rate of 0.2 per cent a tax to be known as a business levy on the gross
sales or receipts, other than emolument income under section 100, of a
person. Finance Act, 1994
Finance Act, 1995
Finance Act, 1996
Finance Act, 1997
Finance Act, 1998
Act 91 of 2000*
(2) Subsection (1) does not apply to -
(a) the gross sales or receipts of a person which give rise to income
exempt from income tax under any Act;
(b) the income of a person whose emolument income under section
100 exceeds seventy-five percent of his total income; With effect from 1/1/99
(c) the gross sales or receipts of a person whose gross sales or receipts
in the preceding year of income do not exceed the sum of two
hundred thousand dollars, unless there are reasonable grounds to
believe that the gross sales or receipts in the particular year of
income will exceed that sum; and Finance Act, 1996
Finance Act 1998*
(d) the gross sales or receipts of the business of a person for a period of
three years following the commencement of the business. Finance Act 35 of 1998
With effect from 1/1/99
Act 39 of 2000**
5 (3)A person is entitled to a tax credit against his business levy liability for
a year of income of any payment made in respect of his income tax liability
for that year of income up to a maximum of his business levy liability.
4 Note: Business Levy rate changed from 0.25 percent to 0.5 per cent.
Effective 1st January, 1995 to 31st December 1995. Effective 1st January 1996
Business levy rate changed from 0.5 percent to 0.4 percent. Effective for 1997
and 1998 - 0.33%. Effective for 1999 - .25%. *Effective 1/1/2001
5 Note: Effective 1st January, 1995
BIR Mac Edition 91/01 Page 9