SAMOA

INCOME TAX (VENTURE CAPITAL FUND) AMENDMENT ACT

2002, No. 13

Arrangement of Provisions

1. Short title and commencement
2. Exemption of Income for Samoan Venture Capital Fund

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AN ACT to amend the Income Tax Act 1974 to provide an exemption for a Samoan Venture Capital Fund.
[28th June 2002]

BE IT ENACTED by the Legislative Assembly of Samoa in Parliament assembled as follows:-

1. Short title and commencement - (1) This Act may be cited as the Income Tax (Venture Capital Fund) Amendment Act 2002 and shall be read with and form part of the Income Tax Act 1974 (the principal Act).

(2) This Act shall commence on the day it is assented to by the Head of State.

2. Exemption of Income for Samoan Venture Capital Fund - (1) Section 7 of the principal Act is amended by insertion of the following:

"(zb) Income received by a Samoan Venture Capital Fund approved by the Minister of Finance for the period ending 31st December 2009 provided that -

(i) only one Fund may be approved under this paragraph; and

(ii) the Fund meets and continues to meet any conditions required by the Minister of Finance, including but not limited to the Fund’s constitution and name."

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