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Income Tax Act 1974

CONSOLIDATED ACTS OF SAMOA 2008

INCOME TAX

ANALYSIS

TITLE

PART I
PRELIMINARY

1. Short Title etc.
2. Interpretation
3. Meaning of expression "dividends"

PART II
INCOME TAX

Division 1
Liability for Income Tax

4. Income tax imposed
5. Income credited in account or otherwise dealt with
6. Income to be expressed in Samoa currency

Division 2
Exempt Income

7. Exempt Income
7A. Exempt Hotel Income

Division 3
Assessable Income

8. Items included in assessable income
9. Retiring allowances
10. Sale of patent rights
11. Capitalisation of mortgage interest
12. Amounts remitted are assessable income
13. Apportionment of income received in anticipation

Division 3A
Salary and Wage Income

Division 4
Assessable Income Trading Stock

14. Valuation of trading stock
15. Sale of trading stock with other assets
16. Sale of trading stock for inadequate consideration

Division 5
Deductions

17. Allowable deductions
18. Expenditure and losses
19. Certain deductions not permitted
20. Bad debts and irrecoverable sums
21. Repairs
22. Expenditure in borrowing money or obtaining lease
23. Premium in respect of leased equipment
24. Expenditure on scientific research
25. Testamentary annuities
26. Contribution to employees’ superannuation fund
27. Retiring allowances payable by employers
28. Pensions to former employees
29. Educational and other beneficial gifts

Division 6
Deductions, Depreciation
and Incentive Allowances

30. Depreciation and special depreciation allowances
31. Tourism Investment Tax Credit

Division 7
Carry Forward of Losses

32. Losses may be set off against future profits

Division 8
Companies

33. Companies
34. Insurance companies
35. Co-operative societies and their members

Division 9
Trusts

36. Income derived by trustee
37. Beneficiary's income

Division 10
Overseas Freight and Passage Money

38. Overseas freight and passage money

Division 11
Film Business of Non-Resident

39. Film Business of non-resident

Division 12
Withholding Income

40. Liability for income tax on withholding income

Division 13