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Income Tax (Amendment) Act (No 5) 2010

PAPUA NEW GUINEA

Income Tax (Amendment) Act 2010

No. 5 of 2010.

Certified on: 18/ 05/ 10

Income Tax (Amendment) Act 2010

ARRANGEMENT OF SECTIONS

1. Interpretation (Amendment of Section 4).
2. Dividends (Amendment of Section 48).

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No. 5 of 2010.

AN ACT

entitled

Income Tax (Amendment) Act 2010,

Being an Act to amend the Income Tax Act 1959.

MADE by the National Parliament.

1. INTERPRETATION (AMENDMENT OF SECTION 4).

Section 4(1) of the Principal Act is amended in the definition of "dividend" by -

(a) deleting the comma after the word "profits" in Paragraph (c) and replacing it with the following –

"; and" and

(b) inserting, after Paragraph (c), the following –

"(ca) amounts paid by a company to any other company or person, to the extent prescribed,"

2. DIVIDENDS (AMENDMENT OF SECTION 48).

Section 48(1) of the Principal Act is amended by –

(a) deleting the word "and" at the end of Subparagraph (b)(i); and

(b) deleting the full stop in Subparagraph (b)(ii) and replacing it with the following -

"; and" and

(c) inserting, after Paragraph (b), the following –

"(c) in any case, an amount prescribed for the purposes of Paragraph (ca) of the definition of dividend in Section 4(1) of this Act.".

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I hereby certify that the above is a fair print of the Income Tax (Amendment) Act 2010 which has been made by the National Parliament.

Clerk of the National Parliament.

I hereby certify that the Income Tax (Amendment) Act 2010 was made by the National Parliament on 06 May 2010.

Speaker of the National Parliament.