Commencement: 11 December 1984
Repealed.

LAWS OF THE REPUBLIC OF VANUATU
REVISED EDITION 1988

CHAPTER 181

CHEQUE TAX

Act 38 of 1984

ARRANGEMENT OF SECTIONS

SECTION
1.	Interpretation
2.	Imposition of the tax
3.	Payment of tax
4.	Quarterly returns
5.	Penalty for late payment
6.	Inspection of records
7.	Tax to be a debt to Government
8.	Regulations

---------------------------------------------------

CHEQUE TAX

To impose a tax on cheques.

INTERPRETATION

1.	In this Act unless the context otherwise requires -

"bank" means any financial institution whose business includes the acceptance of deposits of money withdrawable by cheque;

"collector" means the person appointed by the Minister as the collector for the purposes of this Act;

"quarter" means any one of the periods of 3 months ending on 31 March, 30 June, 30 September and 31 December;

"tax" means the cheque tax imposed by this Act.

IMPOSITION OF THE TAX

2.	There shall be imposed and collected in respect of each cheque supplied by a bank to its customers a tax at the rate of VT10.

PAYMENT OF TAX

3.	The tax due under this Act shall be payable to the collector in the manner herein provided by the bank supplying the cheques.

QUARTERLY RETURNS

4.	(1)	Within 14 days after the expiration of each quarter every bank shall forward to the collector quarterly returns in such terms as the Minister may prescribe showing the number of cheques supplied by it to its customers and the tax due thereon at the end of each quarter.

(2)	The returns shall be accompanied by the amount of tax payable in respect of the cheques supplied to it during the quarter to which it refers.

PENALTY FOR LATE PAYMENT

5.	Where the tax is not paid when due, penalty at the rate of 10 per cent of the unpaid tax shall be payable by the bank for each month during which the tax remains unpaid.

INSPECTION OF RECORDS

6.	A bank shall at all reasonable times permit the collector or a person authorised by him in that behalf to inspect its books, records and documents which have references to cheques on which tax is due and payable:

Provided always that a bank shall not be required to provide for the inspection of any books, records or documents relating to the affairs of its customers.

TAX TO BE A DEBT TO GOVERNMENT

7.	The amount of any tax and penalty due under this Act shall be a debt due to the Government which shall be paid in priority under any law relating to insolvency.

REGULATIONS

8.	The Minister may by Order make regulations for the better carrying out of the purposes of this Act and may prescribe anything that may be prescribed.

------------------------------------------