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Income Tax (Annual 1971) Act 1972

COOK ISLANDS

INCOME TAX (ANNUAL 1971) ACT 1972

ANALYSIS

Title
1. Short Title
ORDINARY INCOME TAX AND WELFARE INCOME TAX
2. Rates of ordinary income tax and welfare tax for year commencing 1 January 1971
EXPORT PRODUCE INCOME TAX
3. Rate of export produce income tax for year commencing 1 January 1971
BONUS ISSUE TAX
4. Rate of bonus issue tax 1971

1972, No. 11

An Act to fix the rates of ordinary income tax, welfare income tax, export produce income tax, and bonus issue tax for the year commencing on the first day of January, nineteen hundred and seventy-one.

(14 November 1972

BE IT ENACTED by the Legislative Assembly of the Cook Islands in Session assembled, and by the authority of the same, as follows:

1. Short Title

This Act may be cited as the Income Tax (Annual 1971) Act 1972, and should be read together with and deemed part of the Income Tax Act 1968-69.

ORDINARY INCOME TAX AND WELFARE INCOME TAX

2. Rates of ordinary income tax and welfare income tax for year commencing 1 January 1971

For the year commencing on the first day of January, nineteen hundred and seventy-one, ordinary income tax and welfare income tax shall be assessed, levied, and paid pursuant to Part V of the Income Tax Act 1968-69 at the rates specified in the First Schedule to the Income Tax Act 1968-69.

EXPORT PRODUCE INCOME TAX

3. Rate of export produce income tax for year commencing 1 January 1971

For the year commencing on the first day of January, nineteen hundred and seventy-one export produce income tax shall be assessed, levied, and paid pursuant to Part VI of the Income Tax Act 1968-69 at the rate specified in clause 6 of Part A of the First Schedule to that Act.

BONUS ISSUE TAX

4. Rate of bonus issue tax for year commencing 1 January 1971

For the year commencing on the first day of January, nineteen hundred and seventy-one, bonus issue tax shall be assessed, levied, and paid pursuant to Part VIII of the Income Tax Act 1968-69 at the rate specified in clause 7 of Part A of the First Schedule to that Act.

This Act is administered in the Inland Revenue Department.

RAROTONGA, COOK ISLANDS: Printed under the authority of the Cook Islands Government, by T. KAPI, Government Printer - 1972.