Kiribati Sessional Legislation
Download original PDF
REPUBLIC OF KIRIBATI
INCOME TAX (AMENDMENT) (No. 1) Act
(No. 18 of 1997)
AN ACT TO AMEND THE INCOME TAX ACT (1990)
MADE by the Maneaba ni Maungatabu and assented to by the Beretitenti.
1. This Act may be cited as the Income Tax (Amendment) (No. 1) Act 1997.
Amendment of Section 74
"74.(1) The chargeable income of the Kiribati Cooperative Copra Society Ltd is exempt from income tax.
(2) Subject to subsection (1) under this Act of any Co-Operative Society which is registered under the Co-operative Societies Ordinance (Cap. 14) shall not include income derived from the sale of copra, and any bonus paid out to its members shall be subtracted as a deduction."
Amendment of Section 101(7)
INCOME TAX (AMENDMENT) (NO. 1) ACT 1997
1. The purpose of this amendment to the Income Tax Act is to retain at section 74 the position of the Kiribati Co-operative Copra Society Ltd., not to be taxed on any income earned and to subject the income of the Co-operative Societies to tax except income earned from the sale of copra. Any amount that is paid as bonus to members of Co-operative Societies is allowed as a deduction.
2. In section 101(7) the period is reduced within which the taxpayer shall lodge his appeal to the Tax Tribunal, from 1 year to 90 days.
Michael N. Takabwebwe
CERTIFICATE BY THE CLERK OF THE MANEABA NI MAUNGATABU
This printed impression has been carefully examined by me with the Bill which passed the Maneaba ni Maungatabu on the 11th of November 1997 and is found by me to be a true and correctly printed copy of the said Bill.
Clerk of Parliament
PUBLISHED BY EXHIBITION AT THE MANEABA NI MAUNGATABU THIS 30TH DAY OF DECEMBER 1997
CLERK OF THE MANEABA NI MAUNGATABU