Income Tax Act (Schedules)

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1. - (1) There shall be exempt from income tax, the profits and income for a period of five years, accruing to any approved enterprise operating -

(2) The tax exemption of five years referred to in paragraph 1 shall be calculated from the date on which such approved enterprise commenced to trade.

2. - (1) In addition to the tax exemptions on the profits and income of any approved enterprise qualifying under sub-paragraph (1) of paragraph 1, such approved enterprise shall be entitled to -

(a) a fifty per cent depreciation of capital expenditure (excluding land) against annual chargeable income until claimed in full;

(b) a one hundred and fifty per cent tax deduction for expenses incurred in overseas promotion programmed conducted with the prior approval of the Commissioner.

(2) The benefits referred to in sub-paragraph (1) shall not be available to an approved enterprise in respect of which an order under section 18(6) has been made by the Minister.

3. Subject to the provisions of this Part, where any tourist hotel or resort in operation 1^st February 1991, satisfies the Board that such tourist hotel or resort has on or after 1^st January, 1989, incurred capital expenditure in respect of any expansion, additional construction or renovation, such tourist hotel or resort shall be entitled to claim from the Commissioner the exemptions set out in paragraphs 1 and 2 (1) (a) of this Schedule.

4. Any approved enterprise engaged in the operation of tourist vessels built locally shall be entitled to write off fifty per cent of the cost of the vessel.

5. - (1) Subject to the provision of sub-paragraph (2), there shall be exempt from income tax for a period of three to six years from the date on which a company made its first export of -

such part of the profits and income of that company as consists of the export profits and income.

(2) The provisions of sub-paragraph (1) shall not be available to an approved enterprise granted tax exemptions under section 10 based on the local value added scheme.

6. - (1) An allowance equal to one hundred and fifty per cent of any sum expended by any company in the promotion and marketing of exports shall be deducted for the purpose of ascertaining the profits or income from exports, provided such promotion was conducted with the prior approval of the Commissioner.

(2) In ascertaining the sum expended in the promotion and marketing of exports, the Commissioner shall take into consideration the costs incurred in -

(g) participating in trade fairs, trade missions and missions of a similar character; and

(h) providing free samples to clients overseas which are not return-able to Solomon Islands.

shall be entitled to claim exemption from income tax in respect of its income and profits for a period of five years out of any ten years from the date of commencement of commercial production.

(2) Subject to the provisions of this Part, where any approved enterprise engaged in any business sector referred to in sub-paragraph (1) satisfies the Board, that such approved enterprise has on or after the 1st day of January, 1989, incurred capital expenditure in expanding its existing business or project, such approved enterprise shall be entitled to claim from the Commissioner the exemptions from income tax in respect of its income and profits for a period of five years out of any ten years.

8. Any approved enterprise that has on or after the 1st day of January, 1989, constructed or engaged in an expansion of its factory space by five per cent or over for its own use shall be entitled to write off as depreciation for per cent in the first year and five per cent per annum thereafter.

9. An approved enterprise may in addition to the incentives provided for in Parts I, II, III and IV claim -

(a) double deduction for tax purposes where the company incurs expenditure for bona fide sponsored apprentices attending Solomon Islands College of Higher Education courses and other approved trade, technical or supervisory training schemes;

(b) double deduction for tax purposes where the company incurs expenditure on professional training for bona fide sponsored higher education courses locally and overseas; and

(c) a one hundred and fifty per cent tax deduction of costs incurred by the producer in inter-province transport of raw materials and qualifying products.

	Paragraph	Exemptions
LN 88/1978	1.	The official emoluments of the Governor - General
LN 128/1967	2.	Omitted
	3.	The education allowances paid to officers in the public service in respect of the education of their children
LN 46A/1978	4.	The income of any religious, charitable, benevolent or educational institution approved by the Minister
	5.	Pensions granted in respect of wounds or disabilities suffered by members of Her Majesty’s Forces
LN 107/1976	6. -	(1) Any amount received by way of compensation for death or injuries (2) All or any part of a lump sum payment by way of a bonus, gratuity or retiring allowance in respect of the full-time employment of a person on the occasion of his retirement from such employment which - (a) is, in the opinion of the Commissioner, just and reasonable; and (b) does not exceed a sum equivalent to half the total income of such person from that employment in respect of the two years immediately preceding his year of retirement reduced by one-tenth for every year by which the number of his completed years of continuous service is such employment immediately preceding such retirement is less than fifteen.
LN 46A/1978	7.	The income of any fund declared by the Minister under section 27(1) to be an approved pension fund.
	8.	The income of the South Pacific Commission and the income derived from funds of the Commission by persons employed thereby.
22 of 1972, s. 22	9.	The gains or profits of a non-resident person from the business of an air transport operator to the extent that the Minister may direct.
LN 53/1980	10.	The income of an co-operative society registered under the Co-operative Societies Act the principal objects of which are the acquisition or development of agricultural land, so far as that income is derived from agriculture.
	11.	The income of any council established under the Local Government Act, to the extent to which such income is not derived from a business carried on by such council.
LN 54/1980	12.	Any distribution by the North New Georgia Timber Corporation to a land owner in North New Georgia of royalties or other sums in respect of the grant of felling licences issued by it received from Lever’s Pacific Timbers Limited in respect of timber extracted from land, being land specified in the First Schedule to the North New Georgia Timber Corporation Act, owned by such land owner.
LN 88/1978	13. -	(1) The emoluments of any member of the permanent consular services of any foreign country in respect of his office or in respect of services rendered by him in his official capacity. (2) The emoluments of any member of the consular service of any foreign country to the extent specified in any reciprocal arrangement for the exemption from income tax of consular emoluments concluded between the Government and such foreign country.
LN 46A/1978	14.	The emoluments - (a) of any member of Her Majesty’s Forces of a member country of the Commonwealth; or (b) of any person in the public service of the Government of such member country in respect of his office under such Government where such person is resident in Solomon Islands solely for the purposes of performing the duties of his office, where such emoluments are payable from the public funds of such member country and are subject to income tax in such member country.
22 of 1972, s. 22	15.	Deleted
LN 46A/1978	16.	The emoluments payable out of overseas sources in respect of duties performed in Solomon Islands in connection with any technical assistance agreement to which the Government of Solomon Islands is a party to any non-resident person or to any person who is resident solely for the purpose of performing such duties, in any case where such agreement provides for the exemption of such emoluments.
LN 46A/ 1978	17.	Any sum paid under an agreement made between Her Majesty’s Government and the Solomon Islands’ Government to an employee of the Solomon Islands’ Government which is stated to represent compensation for loss of career.
LN 46A/1978	18.	Interest paid on tax reserve certificates issued by the Government of Solomon Islands.
22 of 1972, s. 22	19.	Deleted
14 of 1968, s. 24, LN 46A/1978, LN 41/1990	20.	Interest on deposits made with any savings bank in Solomon Islands or on fixed deposit account with any bank in Solomon Islands up to five thousand dollars.
LN 27/1980, LN 41/1990	21.	(a) The appointment grants, constituency allowances and terminal grants payable from public funds to or in respect of any elected member of Parliament in accordance with the Parliamentary Regulations. (b) The value of any benefit, advantage or facility from the provision of an official house, services and servants to the Prime Minister, Ministers and Leader of the Opposition in accordance with the Parliamentary Regulations.
	22.	The income of an association of persons established solely for the purpose of controlling or furthering any amateur sport or game if no part of the income or other funds of the society or association is used or available for the pecuniary profit of any proprietor, member or shareholder thereof.
	23.	The income arising from a scholarship awarded to a person for the purpose of full-time instruction at a university, college, school or other educational establishment.
	24.	The income of any trade union registered under the provisions of the Trade Unions Act in so far as such income is not derived from a trade or business carried on by such trade union.
	25.	The income of any club, society or association, organised and operated exclusively for social welfare, civic improvement, pleasure or recreation, or for any other purposes except profit, no part of the income of which is payable to, or is otherwise available for the personal benefit of any proprietor, member or shareholder thereof in so far as such income is not derived from a trade or business carried on by such club, society or association.
LN 2/1980	26.	Deleted
	27.	The income of the Solomon Islands Ports Authority, in so far as such income is not derived from haulage, sea transport or from the provision of warehousing in a warehouse appointed as a private warehouse under section 2 of the Customs and Excise Act.
2 of 1976, s. 27	28. -	(1) The income of the Solomon Islands National Provident Fund. (2) The interest credited to the account with the Solomon Islands National Provident Fund of any member thereof.
LN 1/1980	29.	Interest on development bonds issued by the Central Bank of Solomon Islands.
LN 61/1987	30.	Reinsurance premiums; and premiums on insurance exempted under section 11 of the Insurance Act.
LN 48/1989, LN 39/1990	31.	Terminal grants paid to members of Provincial Assemblies.
LN 41/1990	32.	The profits derived from the sale of electricity by the Solomon Islands Electricity Authority.
LN 41/1990	33.	The profits made by broadcasting services provided by the Solomon Islands Broadcasting Corporation.
LN 41/1990	34.	Interest on loans payable to the Commonwealth Development Corporation, to the extent that such interest is only exempt from withholding tax.
LN 41/1990	35.	The income and revenue of the Investment Corporation of Solomon Islands.

1. - (1) Subject to this Part, where, during any year, any capital asset to which this Part relates is owned by any person and used by him for the purposes of his business, there shall be made in computing his gains or profits for that year a deduction, in this Part referred to as the wear and tear deduction.

(2) The amount of the wear and tear deduction for any year shall be the appropriate percentage of the written-down value of the capital asset at the end of such year, before making such deduction, as follows: -

(3) For the purposes of this paragraph the expression "used by him for the purposes of his business" shall be deemed to include the period from the date on which capital expenditure is first incurred on the provision of a capital asset to the date on which such asset is put into use by the person incurring such expenditure for the purposes of his business:

Provided that where such person makes a deduction in respect of such period but fails thereafter, other than by reason of the loss or destruction of the capital asset in respect of which such deduction was made, to use such asset for the purposes of his business, the Commissioner may make an additional assessment for the period in respect of which such deduction was made.

3. - (1) The written-down value of each class of capital asset referred to in paragraph 1 (2) shall be calculated separately as at any time and shall be the diminished value of the capital assets of such class as calculated after the deduction of any allowance made under section 3 (1) (a) of the repealed enactment, with the addition of the cost of any capital asset of that class purchased and the deduction of the amount realised on the sale of any capital asset of that class sold in the year 1965 or any succeeding year, less any deductions made under this Part; and where the amount realised for the capital assets of any class sold in any year exceeds that which, but for the deduction of such amount, would be the written-down value of the capital assets of such class at the end of such year, the excess shall not be deducted but shall be treated as a trading receipt.

(2) Where an initial deduction is made under this paragraph in calculating the written-down value of any class of capital asset the wear and tear deduction shall be calculated upon the amount of outstanding after deduction of such initial allowance.

4. Where a capital asset is let upon such terms that the burden of the wear and tear thereof falls directly upon the lessor, this Part shall apply in relation to him as if the asset were, during the period of the letting, in use for the purposes of a business carried on by him.

5. - (1) Where wear and tear or initial deductions have been made in computing the gains or profits of any person and that person ceases to carry on the business for the purposes for which the capital assets were used and such assets cease to be owned by him, there shall be made in computing his gains or profits for the year in which such cessation occurs a deduction or charge, in this Part referred to as a balancing deduction or balancing charge:

(a) for the purposes of this paragraph a partnership shall be deemed not to have ceased to carry on a business unless all the partners who carried it on cease to carry it on;

(b) where capital assets are sold by the liquidator of a company which is in the course of being wound up, the balancing deduction or balancing charge shall be made in computing the gains or profits of such company for the year in which the winding up commenced and shall be computed on the sale moneys received by the liquidator;

(c) where, in the case of a balancing deduction, the total income for such year before taking account of such deduction is less than the amount of such deduction, the excess may be carried back and allowed in calculating the total income of the next preceding year, and so on, for as long as is necessary for such deduction to be absorbed by the total income of preceding years, not exceeding in all six in number.

(2) Subject to this Part, where on the cessation of a business a balancing deduction or a balancing charge is to be made under this paragraph and -

(a) no sale moneys are received by the person owning such capital assets, or the written-down value at the time of such cessation exceeds those moneys, the balancing deduction shall be the written-down value at the time of such cessation, or the excess thereof over such moneys, as the case may be;

(b) the sale moneys exceed the written-down value, if any, at the time of cessation, the balancing charge shall be the amount of such excess or, where the written-down value is nil, the amount of such moneys, as the case may be.

(3) Notwithstanding the provisions of sub-paragraph (1), where a capital asset has ceased altogether to be used for the purposes of a business carried on by any person then, if such asset has been lost or destroyed or has been sold by such person, or is unlikely to be saleable for a price in excess of the cost of procuring its sale, the foregoing provisions of this paragraph shall apply in relation to such asset as though -

(b) such person had ceased to carry on the business for the purposes of which such asset had been used.

"timber concession" means the area over which a timber concessionaire has the right to cut timber by virtue of a valid licence, permit or other authority issued by or on behalf of the Government;

"timber concessionaire" means a person to whom a valid licence, permit or other authority to cut timber has been issued by or on behalf of the Government and who is exercising his rights under such licence, permit or other authority.

7. Where in any year the owner or tenant of land incurs capital expenditure on improvements of the following nature -

(a) the purchase and planting, in good and husbandlike manner, of the seeds or seedlings of coconut palms, oil palms or cocoa;

(b) such clearing, draining, fencing and roadmaking as is necessary for the purposes of such planting;

he shall, on delivering the return of income required by section 57 for such year, by notice in writing to the Commissioner elect either -

(i) that the whole of such expenditure shall be deducted in computing his gains or profits for the year in which it is incurred, or

(ii) (a) that in the case of coconut palms one-seventh of such expenditure shall be deducted in computing his gains or profits for such year and each of the six following years;

(b) that in the case of oil-palms one-quarter of such expenditure shall be deducted in computing his gains or profits for such year and each of the following three years;

(c) that in the case of cocoa one-fifth of such expenditure shall be deducted in computing his gains or profits for such year and each of the four following years;

(d) that in the case of yards, fences and water supplies one-tenth of such expenditure shall be deducted in computing his gains and profits for such year and each of the nine following years;

(e) that in the case of re-afforestation expenditure one-fifteenth of such expenditure shall be deducted in computing gains or profits for such year and each of the following fourteen years,

and any such election shall be binding upon him in relation to all such expenditure incurred in subsequent years:

Provided that if such person fails to make such election, he shall be deemed to have elected that the whole of such expenditure shall be deducted in the year in which it is incurred.

"expenditure" means capital expenditure incurred in Solomon Islands by a person carrying on the business of mining -

(a) in searching for or in discovering and testing deposits of minerals, or in winning access to those deposits, whether or not such search is, or such deposits are, in an area contiguous to any mine in relation to which such person carries on the business of mining;

(b) in the acquisition of, or of rights in or over, such deposits, other than the acquisition from a person who has carried on a business of mining in relation to such deposits;

(c) in the provision of machinery which would have little or no value to such person if the mine ceased to be worked on the termination of the year in respect of which deduction has been made under this Part, and any premium, or consideration in the nature of a premium, paid for the use of such machinery;

(d) on the construction of any building or works which would have little or no value if the mine ceased to be worked on the termination of the year in respect of which any claim for a deduction has been made under this Part;

(e) on development, general administration and management prior to the commencement of production or during any period of non-production:

Provided that the expression "expenditure" shall not include any expenditure on the acquisition of the site of such deposits, or of the site of any buildings or works, or of rights in or over any such site;

"mineral" does not include any common clay, murram, sand, limestone, sandstone, brine, diatomite, gypsum, anhydrite, sulphur, dolomite, kaolin, bauxite, any sodium or potassium compounds, or any other commonly found mineral, unless it has been obtained by under-ground mining operations;

9. Subject to this Schedule, where a person carrying on the business of mining incurs expenditure in any year, there shall be made, in computing his gains or profits for such year and each of the four following years, a deduction equal to one-fifth of such expenditure.

10. - (1) Notwithstanding anything contained in paragraph 9, where the Commissioner is satisfied that, having regard to the estimated ore reserves and deductions to any other relevant information, a mine is likely to cease to be worked before the expiration of four years from the end of the year in which the expenditure was incurred, he may, upon the application of the person who incurred the expenditure, increase the amount of the deduction for any year to such amount as he may consider to be just and reasonable.

(2) Where the amount of a deduction under this Part has been in any manner varied for any year, the deductions for subsequent years shall be so adjusted that the sum of deductions for all years shall not exceed the amount of the expenditure.

11. Where separate and distinct mining operations are carried on by the same person in mines that are not contiguous, the mines shall be treated for the purposes of this Part as if separate businesses were carried on in relation thereto.

12. - (1) Any expenditure incurred for the purposes of a business of mining by a person about to carry it on shall be treated for the purposes of this Part as if it had been incurred by that person on the first day on which he does carry it on.

(2) Where a person incurs expenditure to which this Part applies on searching for or on discovering and testing any deposits of minerals, or winning access to those deposits and, without having carried on any business of mining, he sells any assets representing such expenditure in relation to those deposits, then if the purchaser carries on a business of mining, such purchaser shall, for the purposes of such business, be deemed to have incurred expenditure to which this Part applies equal to the price paid by him for such assets.

13. Where a person succeeds to any business which until that time was carried on by another person, and any capital asset which, immediately before the succession was in use for the purposes of the business without being sold is, immediately after such succession, in use for the purposes of the business, such capital asset shall, for the purposes of this Schedule, be treated as if it had been sold at the date of the succession to the person or persons carrying on the business immediately thereafter and as if the net proceeds of the sale had been the written-down value of the capital asset.

14. - (1) Where, either before or after the commencement of this Act, a person has acquired any capital asset in respect of which a deduction has been lawfully allowed or is allowable under this Act or any previous Act or Regulations he shall not be entitled to any greater deduction under this Schedule than that which would have been allowed to the person from whom the asset was acquired if that person had retained it:

Provided that this sub-paragraph shall not apply where the Commissioner is of the opinion that the circumstances are such that a deduction based on the actual consideration given should be allowed.

(2) Where a company not being incorporated in the Solomon Islands, transfers assets to a company incorporated in the Solomon Islands, the Commissioner may on the application of both such companies, deem that such assets have been sold at the written-down value ascertained in accordance with this Schedule in those circumstances where the buyer is a company over whom the seller has control, or the seller is a company over whom the buyer has control or where the buyer and seller are both under the control of some other person.

15. Where any capital asset owned by a person is during any year used by him for the purposes of a business carried on by him and also used by him for other purposes, then in determining the amount of any wear and tear deduction, initial deduction, or any balancing deduction or balancing charge, or the written-down value of such machinery for any year, regard shall be had to all the relevant circumstances of the case and in particular to the extent of the use for such other purposes and the Commissioner shall make such adjustments as he may determine to be just and reasonable.

16. This Part shall, with any necessary adaptations, apply in relation to any employment as it applies in relation to a business.

17. - (1) Any reference in this Schedule to the sale of any asset, of whatsoever nature, includes a reference to the sale of that asset together with any other assets; and, where an asset is sold together with other assets, so much of the net proceeds of the sale of the whole of the assets as the Commissioner may determine to be just and reasonable as properly attributable to the first-mentioned asset shall, for the purposes of this Schedule, be deemed to be the net proceeds of the sale of the first-mentioned asset, and reference to expenditure incurred on the provision or the purchase of assets shall be construed accordingly.

(2) For the purposes of this paragraph all the assets which are sold in pursuance of one bargain shall be deemed to be sold together, notwithstanding that separate prices are, or purport to be, agreed for separate assets or that there are, or purport to be, separate sales of separate assets.

18. - (1) Unless the context otherwise requires, references in this Schedule to capital expenditure and capital sums in relation to the person incurring such expenditure, or paying such sums, do not include any expenditure or sum which is deductible otherwise than under this Schedule for the purpose of ascertaining his total income.

(2) Any reference in this Schedule to the date on which expenditure is incurred shall be construed as a reference to the date when the sum in question becomes payable.

19. Expenditure shall not be regarded for any of the purposes of this Schedule as having been incurred by any person in so far as it has been, or is to be, met directly or indirectly by any government or local authority, or by any person, whether in Solomon Islands or elsewhere, other than the first-mentioned person.

20. If a deduction is made under any Part in respect of any asset in computing the gains or profits of any person for any year then, to the extent to which such a deduction has been made, no further deduction shall be made under that Part or any other Part or under any other provision of this Act in respect of that asset in ascertaining the total income of that person for the same or any previous or subsequent year.

(ii) the coming to an end of any interest in property, any compensation payable in respect of that property;

(iii) the demolition or destruction of any property, the net amount received for the remains of the property, together with any insurance or salvage moneys received in respect of the demolition or destruction and any other compensation of any description received in respect thereof, in so far as that compensation consists of capital sums;

(c) "control", in relation to a body corporate, means the power of a person to secure, by means of the holding of shares or the possession of voting power in or in relation to that or any other body corporate, or by virtue of any powers conferred by the articles of association or other document regulating that or any other body corporate, that the affairs of the first-mentioned body corporate are conducted in accordance with the wishes of that person and, in relation to a partnership, means the right to a share of more than one-half of the assets or of more than one-half of the income of the partnership;

(d) any references to any machinery, building works or capital asset shall be construed as including a reference to a part of any such machinery, building works or capital asset;

(e) any reference to the time of any sale shall be construed as a reference to the time of completion or the time that possession is given, whichever is the earlier;

(f) the price which any property would have fetched if sold in the open market shall be determined by the Commissioner.

(2) Where any income of an accounting period ending on some day other than the last day of any year is taken into account for the purpose of ascertaining total income for any year, then any reference in this Schedule to a year shall be construed as a reference to such accounting period:

Provided that where any deduction under this Schedule is related to a year and any income of an accounting period is so taken into account, then, if such accounting period is more or less within twelve months, the amount of such deduction shall be appropriately increased or decreased as the case may be.

In the matter of assessment of...................................... for the year.................................................

I hereby give notice that I object to the above assessment for the following reasons -

Dated this ............................ day of..............................................................................., 19.............

In the matter of assessment of........................... for the year.............................................................

I hereby give notice that I am dissatisfied with your decision, notice of which has been served upon me under section 78(3), for the following reasons -

Dated this .................................................... day of........................................................, 19.............

I, ...................................................................., make oath and swear that I will faithfully and honestly perform the duties which devolve upon me under the Income Tax Act and that I shall regard and deal with all documents and information relating to the income of any person and all confidential instructions in respect of the administration of the Act, which may come into my possession or to my knowledge in the course of my official duty, as secret, and that I shall not reveal any such document or information to any person, nor permit any person to have any access to such document, save in the circumstances in which I am permitted to do so under the Act.

Made and subscribed before me this ................... day of...................................19.....................

Enterprise		Tax holiday period
1.	Enterprises whose local value added in respect of the approved products amounts to 75% or more of the value of ex-factory sales of the products.	6 years
2.	Enterprises whose local value added in respect of the approved products amount to 50% or more but less than 75% of the value of ex-factory sales of the products.	5 years
3.	Enterprises whose local value added in respect of the approved products amount to 40% but less than 50% of the value of ex-factory sales of the products.	4 years
4.	Enterprise whose local value added in respect of the approved products amount to 25% or more but less than 40% of the value of ex-factory sales of the products.	3 years
5.	Enterprises which involve a capital investment of not less than $10 million irrespective of their local value added.	5 to 10 years

Total Ex-factory sales		$		(1)
(A) Payments made in respect of -
1.	Import cost of raw materials, fuel, components, imported content of locally produced components
2.	Salaries and wages to non-residents	$
3.	Profits and dividends to non-residents	$
4.	Loan interest	$
5.	Management fees	$
6.	Royalties	$
7.	Licence	$
8.	Professional fees	$
9.	Other Payments (Specify)	$
			$	(2)

(B)	Depreciation of imported plant, machinery, equipment and spare parts		$	(2)
	Total Deductions (A + B)		$	(3)
	Balance (1-3)		$	(4)
	Local value added = (4)/(1) x 100

Local value added	Extent of Tax Relief on Export Profits	Years
75% and over	100%	6
50% and under 75%	100%	5
40% and under 50%	100%	4
25% and under 40%	100%	3
100% export oriented enterprises irrespective of their local value added	100%	5

	Per Cent
(i) all buildings, building fixtures and fittings, bridges, wharves, slipways, boilers and oil storage tanks not otherwise specified ... ... ...	5
(ii) vehicles, vessels, aircrafts and all plant and machinery not otherwise specified ... ... ... ...	25
(iii) all buildings and building fixtures owned and used in Solomon Islands by an employer for the purpose of providing accommodation for his employees where the capital cost of accommodation per employee including his family is ten thousand dollars or less and all assets in (i) and (ii) above owned and used by a timber concessionaire for the principal purpose of cutting, extracting and processing timber from within the boundaries of a timber concession ... ... ...	35

Income Bracket	Rate
$1 to $15,000.00	$0.11
$15,001.00 to $30,000.00	$0.23
$30,001.00 to $60,000.00	$0.35
$60,001.00 and over	$0.47

INCOME		RATE

(i)	Interest	15¢ in the dollar
(ii)	Professional Services	7½¢ in the dollar
(iii)	Royalties	15¢ in the dollar
(iv)	Income from contracting	7½¢ in the dollar
(v)	Income from ships and aircraft	5¢ in the dollar
(vi)	Insurance premiums	15¢ in the dollar
(vii)	rent for the hiring of films	5¢ in the dollar
(viii)	the remuneration of foreign fishermen who are Pole and Line fishermen deemed to be non-resident for purposes of income tax as provided under section 2 of the Act	10¢ in the dollar
(ix)	the remuneration of foreign fishermen who are Purse Seiners and deemed to be non-resident for purposes of income tax as provided under section 2 of the Act	15¢ in the dollar
(x)	lease income	15¢ in the dollar

INCOME		RATE

(i)	Income from contracting and/or sub-contracting	7½¢ in the dollar
(ii)	Royalties	10¢ in the dollar
(iii)	Income from fishing operations	10¢ in the dollar
(iv)	Income from lease of property	10¢ in the dollar
(v)	Income from the sale of cocoa	NIL
(vi)	Income from the sale of copra	NIL
(vii)	Income from the sale of marine products	10¢ in the dollar

Solomon Islands Consolidated Legislation

Income Tax Act (Schedules)