2015/08/19
OBJECTS AND REASONS
This Bill would amend the Cultural Industries Development Act, Act 2013-15 to reduce the rate applicable to the deductions that can be claimed in respect of income tax.
Arrangement of Sections
Short title
Amendment of section 28 of Act 2013-15
Amendment of section 29 of Act 2013-15
Amendment of section 30 of Act 2013-15
Amendment of section 38 of Act 2013-15
Amendment of section 39 of Act 2013-15
Amendment of section 40 of Act 2013-15
1.
2.
3.
4.
5.
6.
7.
2
BARBADOS
A Bill entitled
An Act to amend the Cultural Industries Development Act, Act 2013-15 to reduce the rate applicable to the deductions that can be claimed in respect of income tax.
ENACTED by the Parliament of Barbados as follows:
Short title
This Act may be cited as the Cultural Industries Development (Amendment) Act, 2015.
Amendment of section 28 of Act 2013-15
Section 28 of the Cultural Industries Development Act (Act 2013-15), in this Act referred to as the principal Act, is amended, in subsection (1), by deleting the words “150 per cent” and substituting the words “100 per cent”.
Amendment of section 29 of Act 2013-15
Section 29 of the principal Act, is amended by deleting the words “150 per cent” and substituting the words “100 per cent ”.
Amendment of section 30 of Act 2013-15
Section 30 of the principal Act, is amended, in subsection (1), by deleting the words “150 per cent” and substituting the words “100 per cent”.
Amendment of section 38 of Act 2013-15
Section 38 of the principal Act, is amended, in subsection (1), by deleting the words “150 per cent” and substituting the words “100 per cent”.
Amendment of section 39 of Act 2013-15
Section 39 of the principal Act, is amended, in subsection (4), by deleting the words “150 per cent” and substituting the words “100 per cent”.
Amendment of section 40 of Act 2013-15
Section 40 of the principal Act, is amended
in subsection (2) by deleting the words “150 per cent” and substituting the words “100 per cent”; and
1.
2.
3.
4.
5.
6.
7.
(a)
4
in subsection (4) by deleting the word “150 per cent” and substituting the word “100 per cent”.
Read three times and passed the House of Assembly this day of , 2015.
Speaker
Read three times and passed the Senate this day of , 2015.
President
(b)
5