Home | Databases | WorldLII | Search | Feedback Vanuatu Sessional Legislation

Business Licence (Amendment) Act No 20 of 1993

Commencement: 01 July 1993

REPUBLIC OF VANUATU

BUSINESS LICENCE (AMENDMENT) ACT
NO. 20 OF 1993

Arrangement of Sections

1. Insertion of new Section 16A of Chapter 173
2. Amendment of Schedule 1 to the principal Act
3. Commencement

----------------------------------------------

REPUBLIC OF VANUATU

Assent: 21/06/93
Commencement: 01/07/93

BUSINESS LICENCE (AMENDMENT) ACT
NO. 20 OF 1993

An Act to amend the Business Licence Act [CAP. 173].

BE IT ENACTED by the President and Parliament as follows: -

INSERTION OF NEW SECTION 16A OF CHAPTER 173

1. The following new section is inserted after section 16 of the Business Licence Act [CAP. 173] in this Act referred to as the 'principal Act':
   

"BAD DEBTS

16A. (1) Subject to subsection 2, where the business license fee for any class or category of business in the First Schedule to this Act is calculated as a percentage of the business turnover, amounts due to a business licence holder in respect of business turnover which have been written off as irrecoverable bad debts may be deducted from the turnover derived by that business during the licensing year to which they relate.

(2) If any amount shown as a deduction pursuant to subsection (1) or a part thereof is subsequently received by the business licence holder, such amount or part thereof shall be included as part of the total business turnover of the business licence holder during the licensing year next following.

(3) All claims for deductions from business turnover on account of debts written off must be supported by a return specifying the names and addresses of individual debtors, the respective amounts, date or dates on which the debts were incurred and the date or dates on which the debts were written off."

AMENDMENT OF SCHEDULE 1 TO THE PRINCIPAL ACT

2. Schedule 1 to the principal Act is amended is further amended as follows: -
   

(a) In item 'Category D1' by deleting the figure '2.00%' in the paragraph in the column headed Classes and Categories of Business' and in the column headed 'Annual Fee' corresponding to that paragraph and substituting the figure '2.50%'.

(b) In item 'Category D7' by deleting the figure '2.00%' in the paragraph in the column headed 'Classes and Categories of Business' and in the column headed 'Annual Fee' corresponding to that paragraph and substituting the figure '2.50%'.

(c) In item 'Category F1' by deleting the figure '3.00%' in paragraph A in the column headed 'Classes and Categories of Business' and in the column headed 'Annual Fee' corresponding to that paragraph and substituting the figure '4.00%'.

(d) In item 'Category F2' -

(i) by deleting the figure '2.00%' in paragraph A in the column headed 'Classes and Categories of Business' and in the column headed 'Annual Fee' corresponding to that paragraph and substituting the figure '4.00%';

(ii) by deleting the figure '2.00%' in paragraph B in the column headed 'Classes and Categories of Business' and in the column headed 'Annual Fee' corresponding to that paragraph and substituting the figure '4.00%'.

(e) In item 'Category F3' -

(i) by deleting the figure '1.00%' in paragraph A in the column headed 'Classes and Categories of Business ' and in the column headed 'Annual Fees' corresponding to that paragraph and substituting the figure '2.00%';

(ii) by deleting the figure '1.00%' in paragraph B in the column headed 'classes and categories of business' and in the column headed 'Annual Fee' corresponding to that paragraph and substituting the figure '2.00%';

(iii) by deleting the figure '1.00%' in paragraph C in the column headed 'Classes and Categories of Business' and in the column headed 'Annual Fee' corresponding to that paragraph and substituting the figure '2.00%';

(f) In item 'Category I1' by deleting the figure '3.50%' in the paragraph in the column headed 'Classes and Categories of Business' and in the column headed 'Annual Fee' corresponding to that paragraph and substituting the figure '4.00%'.

(g) In item 'Category I2' deleting the figure '3.50%' in the paragraph in the column headed 'Classes and Categories of Business' and in the column headed 'Annual Fee' corresponding to that paragraph and substituting the figure '4.00%'.

COMMENCEMENT

3. This Act shall come into force on the 1^st day of July 1993.

-----------------------------------