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Business Tax Act 2016 - Business Tax (Rates of Tax) (Amendment) Regulations 2018

REPUBLIC OF NAURU
BUSINESS TAX (RATES OF TAX) (AMENDMENT) REGULATIONS 2018

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SL No. 15 of 2018
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Notified: 25^th June 2018

Table of Contents

1 CITATION

2 COMMENCEMENT

3 AMENDMENT OF THE BUSINESS TAX ACT 2016

4 Amendment of Schedule 1

Cabinet makes the following Regulations under section 46 of the Business Tax Act 2016:

1. Citation

These Regulations may be cited as the Business Tax (Rates of Tax) (Amendment) Regulations 2018.

2. Commencement

These Regulations commence on 1 July 2018.

3. Amendment of the Business Tax Act 2016
   

These Regulations amend the Business Tax Act 2016.

4. Amendment of Schedule 1
   

Schedule 1 of the Act is omitted and substituted with the following:

SCHEDULE 1

Sections 11, 12, 13 and 14

RATES OF TAX

(1) The rate of business profits tax:

• (a) for a resident individual, is:

(b) for a partnership, is 20% on taxable income reduced by $250,000 in respect of each resident individual member;

(c) for a trust, is 20% on taxable income reduced by $250,000 in respect of each resident individual beneficiary;

(d) for a company:

(e) for any other person, is 20%.

(2) The rate of small business tax is 2.5%.

(3) The rate of non-resident tax is 20%.

(4) The rate of international transportation business tax is 0%.