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:
handicraftsmen 120
professionals, merchants, industrialists, businessmen 220
insurance, shipping, aircraft, banking and finance companies 3,000
public companies 3,000
offshore companies
