All municipal corporations and village improvement boards impose various local rates and taxes, the most important being the professional tax.
The Municipal Corporation Law provides for the maximum amount of tax that can be fixed and the various municipalities and improvement boards fix the amounts of professional tax to be imposed on salaried persons and businesses within their boundaries by regulations published in the Government Gazette. The current tax on salaried persons varies from nil, for an annual salary up to C£1.000 to a maximum of C£220.50 for an annual salary of over C£30,000.
The maximum annual professional tax that may be imposed is as follows:
The contents of this article are intended to provide a general guide to the subject matter. Specialist advice should be obtained before any action is taken.
The Municipal Corporation Law provides for the maximum amount of tax that can be fixed and the various municipalities and improvement boards fix the amounts of professional tax to be imposed on salaried persons and businesses within their boundaries by regulations published in the Government Gazette. The current tax on salaried persons varies from nil, for an annual salary up to C£1.000 to a maximum of C£220.50 for an annual salary of over C£30,000.
The maximum annual professional tax that may be imposed is as follows:
handicraftsmen 120 professionals, merchants, industrialists, businessmen 220 insurance, shipping, aircraft, banking and finance companies 3,000 public companies 3,000 offshore companies 1,800 co-operative credit societies 500 private companies depending on share capital, turnover and number of employees 850 partnerships depending on number of employees 850 other persons not elsewhere specified 500 In the case of six monthly licences, half of the above fees are imposed
The contents of this article are intended to provide a general guide to the subject matter. Specialist advice should be obtained before any action is taken.
