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Vanuatu Sessional Legislation |
REPUBLIC OF VANUATU
BUSINESS
LICENCE
(AMENDMENT)
ACT NO.
37 OF 2006
Arrangement of Sections
1.
Amendment
2.
Commencement
---------------------------------------
REPUBLIC OF VANUATU
Assent:
28/12/2006
Commencement:
01/01/2007
BUSINESS
LICENCE
(AMENDMENT)
ACT NO.
37 OF 2006
An Act to amend the Business Licence Act No. 19 of 1998.
Be it enacted by the President and Parliament as follows-
1 Amendment
The Business Licence Act No. 19 of 1998 is amended as set out in the Schedule.
2 Commencement
This Act commences on 01 January 2007.
_____________________________
SCHEDULE
AMENDMENTS
OF THE BUSINESS
LICENCE
ACT NO. 19
OF 1998
1 Section
1
Insert the following definitions in
their correct alphabetical positions
" "exempt
supply" means a supply of goods or
services in Vanuatu which is exempt from tax under paragraph 10(3)(a) and the
First Schedule of the Value
Added Tax Act No. 12 of 1998.
" "zero-rated
supplies" has the same meaning as in
the Value Added Tax Act No. 12 of 1998."
2 Section 18A
Delete
the section,
substitute
"18A Imposition
of turnover tax
(1) Subject to the provisions
of this Act, there will be assessed, levied and paid for the use of the State, a
tax known as the turnover
tax.
(2) Subject to the provisions of
this Act, a turnover tax at the rate of 5% is to be payable by a business entity
undertaking activities
categorised as exempted supplies or zero-rated
supplies.
(3) The turnover tax is
payable by a person operating a business specified in classes A, B, C, E, J, K,
and L, and categories D2,
D3, D5,, F2, F3(a), F3(b), F3(c), F3(d), F4, G1, G2,
I1, I2, I3, and I4 of Schedule 1 and is to be paid on a quarterly basis within
14 days after the end of each quarter, by the holder of the business
licence.
(4) To
avoid doubt, this section applies despite any other provision of this
Act.
(5) In
this section:
"quarter" means a
period of 3 months beginning on 1 January, 1 April, 1 July or 1 October of any
year."
1 Schedule
1 (Category D5)
Delete
"5,000 for gross turnover of less
than 10 million;
50,000 for gross
turnover of 10 million to less than 20
million;
100,000 for gross turnover of
20 million to less than 50
million;
250,000 for gross turnover of
50 million to less than 100
million;
500,000 for gross turnover of
100 million to less than 200
million;
1,000,000 for gross turnover
of 200 million or
more."
substitute;
"5%
applies on zero-rated supplies and exempt
supplies;
For taxable
supplies-
5,000 for gross turnover of
less than 10 million;
50,000 for gross
turnover of 10 million to less than 20
million;
100,000 for gross turnover of
20 million to less than 50
million;
250,000 for gross turnover of
50 million to less than 100
million;
500,000 for gross turnover of
100 million to less than 200
million;
1,000,000 for gross turnover
of 200 million or more."
2 Schedule
1 (Classes A, B, C, E, and Categories D2, D3, G1, G2, I1, I2,I3, and I4
)
Delete
"20,000 for gross turnover of
less than 10 million;
50,000 for gross
turnover of 10 million to less than 20
million;
100,000 for gross turnover of
20 million to less than 50
million;
250,000 for gross turnover of
50 million to less than 100
million;
500,000 for gross turnover of
100 million to less than 200
million;
1,000,000 for gross turnover
of 200 million or more"
substitute:
"5%
applies on zero-rated supplies and exempt
supplies;
For taxable
supplies-
20,000 for gross turnover of
less than 10 million;
50,000 for gross
turnover of 10 million to less than 20
million;
100,000 for gross turnover of
20 million to less than 50
million;
250,000 for gross turnover of
50 million to less than 100
million;
500,000 for gross turnover of
100 million to less than 200 million;
1,000,000 for gross turnover of 200 million or more."
3 Schedule
1 (Category F2)
Delete "subject to
a minimum fee of".
Delete
"330,000", substitute;
"5% applies
on zero-rated supplies and exempt
supplies;
"For taxable
supplies-
20,000 for gross turnover of
less than 10 million;
50,000 for gross
turnover of 10 million to less than 20
million;
100,000 for gross turnover of
20 million to less than 50
million;
250,000 for gross turnover of
50 million to less than 100
million;
500,000 for gross turnover of
100 million to less than 200
million;
1,000,000 for gross turnover
of 200 million or
more."
4 Schedule
1 (Category F3(a) and
F3(b))
Delete
"20,000
for gross turnover of less than 10
million;
50,000 for gross turnover of
10 million to less than 20
million;
100,000 for gross turnover of
20 million to less than 50
million;
250,000 for gross turnover of
50 million to less than 100
million;
500,000 for gross turnover of
100 million to less than 200
million;
1,000,000 for gross turnover
of 200 million or
more."
substitute:
"5%
applies on zero-rated supplies and exempt
supplies;
For taxable
supplies-
20,000 for gross turnover of
less than 10 million;
50,000 for gross
turnover of 10 million to less than 20
million;
100,000 for gross turnover of
20 million to less than 50
million;
250,000 for gross turnover of
50 million to less than 100
million;
500,000 for gross turnover of
100 million to less than 200
million;
1,000,000 for gross turnover
of 200 million or
more."
5 Schedule
1 (Category
F3(c))
Delete
"20,000
for gross turnover of less than 10
million;
50,000 for gross turnover of
10 million to less than 20
million;
100,000 for gross turnover of
20 million to less than 50
million;
250,000 for gross turnover of
50 million to less than 100
million;
500,000 for gross turnover of
100 million to less than 200
million;
1,000,000 for gross turnover
of 200 million or
more."
substitute:
"5%
applies on zero-rated supplies and exempt
supplies;
For taxable
supplies-
20,000 for gross turnover of
less than 10 million;
50,000 for gross
turnover of 10 million to less than 20
million;
100,000 for gross turnover of
20 million to less than 50
million;
250,000 for gross turnover of
50 million to less than 100
million;
500,000 for gross turnover of
100 million to less than 200 million;
1,000,000 for gross turnover of 200 million or more."
6 Schedule
1 (Category F3(d)
Delete
"20,000 for gross turnover of
less than 10 million;
50,000 for gross
turnover of 10 million to less than 20
million;
100,000 for gross turnover of
20 million to less than 50
million;
250,000 for gross turnover of
50 million to less than 100
million;
500,000 for gross turnover of
100 million to less than 200
million;
1,000,000 for gross turnover
of 200 million or
more."
substitute:
"5%
applies on zero-rated supplies and exempt
supplies;
For taxable
supplies-
20,000 for gross turnover of
less than 10 million;
50,000 for gross
turnover of 10 million to less than 20
million;
100,000 for gross turnover of
20 million to less than 50
million;
250,000 for gross turnover of
50 million to less than 100
million;
500,000 for gross turnover of
100 million to less than 200
million;
1,000,000 for gross turnover
of 200 million or
more."
7 Schedule
1 (Category F4)
After "exempt",
insert
"supplies".
8 Schedule
1 (Classes J, K, and L)
(a) Insert "plus for each non-citizen principal or partner engaged in the business" under each of the following classes of businesses in schedule 1 as set out in the Table below.
TABLE
|
Classes of Businesses |
|
Class J. ARTIST AND SCULPTORS Class
K. PLANTERS, FARMERS, DAIRY MEN, MARKET AND OTHER GARDENERS, STOCK BREEDERS,
VEGETABLE AND FRUIT HAWKERS
Class L. FISHERMEN |
(b) Insert "100,000" corresponding to the classes of businesses in schedule 1 as set out in the Table, being the annual fee for each non-citizen principal or partner engaged in the business.
9 Schedule
1 (Classes J, K, and L)
Delete
"50,000 for gross turnover of 10
million to less than 50
million;
250,000 for gross turnover of
50 million to less than 200
million;
1,000,000 for gross turnover
of 200 million or
more."
substitute:
"5%
applies on zero-rated supplies and exempt
supplies;
For taxable
supplies-
50,000 for gross turnover of
10 million to less than 50
million;
250,000 for gross turnover of
50 million to less than 200
million;
1,000,000 for gross turnover
of 200 million or more."
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