Income Tax Act (Cap. 123)

Inhalt

1. Art. 1 Short title.
2. Art. 2 Interpretation.
3. Art. 3 Administration of Act.
4. PART II
5. Art. 4 Charge of Income Tax.
6. Art. 4A Profits or income prior to a change residence or domicile.
7. Art. 5 Capital gains.
8. Title VI of Part II of Book Second of the Civil Code,
9. Art. 5A Property transfers.
10. Art. 6 Investment Services and Insurance Expatriate.
11. Art. 7 Year of assessment 1973.
12. Art. 8 Special provisions in respect of certain formerly undeclared income.
13. Art. 9 Further special provisions in respect of certain formerly undeclared income.
14. Art. 9A Spontaneous declaration of undeclared income.
15. Art. 9B Assets registered under the Invest- ment Registration Scheme.
16. Art. 10 Basis of assessment.
17. Art. 11 Accounting periods.
18. PART III
19. Art. 12 Exemptions.
20. Art. 13 Temporary residents.
21. PART IV
22. Art. 14 Deductions allowed.
23. Art. 14A Alimony payments.
24. Art. 14B School fees.
25. Art. 14C Child care fees.
26. Art. 14D Fees in respect of homes for the elderly and the disabled.
27. Art. 14E Sports fees.
28. Art. 14F Proof of payment of fees.
29. Art. 14G Fees for cultural activities.
30. Art. 15 Investment services companies.
31. Art. 15A Companies author- ised to act as insur- ance managers.
32. Art. 16 Definition of group.
33. Art. 17 Surrender of relief between members of groups.
34. Art. 18 Losses which may be surrendered by way of group relief.
35. Art. 19 Group relief anti- avoidance.
36. Art. 20 Exclusion of double reliefs.
37. Art. 21 Claims and adjustment.
38. Art. 22 Definitions.
39. Art. 22A Single taxable person basis.
40. Art. 22B Elective Tax.
41. Art. 23 Profits from production of petroleum.
42. Art. 24 Balancing statement, balancing allowance and charge.
43. Art. 25 Applicability of articles 14 to 24.
44. Art. 26 Deductions not to be allowed.
45. PART V
46. Art. 27 Business of insurance.
47. Art. 27A Tax treatment of mergers, divisions of companies, etc.
48. Art. 27B Taxation of trusts.
49. Art. 27C Trustees.
50. Art. 27D Trusts treated as companies.
51. Art. 27E Regulations in relation to tax treatment of a foundation.
52. Art. 27F Regulations in relation to the conversion of a legal person into another legal form.
53. Art. 27G Transfers of property by listed companies.
54. Art. 28 Non-resident shipowners.
55. Art. 29 Non-resident air transport, cable and wireless undertakings.
56. Art. 30 Ecclesiastical and allied income.
57. Art. 31 Income from certain dividends to include tax thereon.
58. Art. 31A Taxation of rental income received from the Housing Authority.
59. Art. 31B Rental income on Housing Authority subsidised rent.
60. Art. 31C Rental income from restored property.
61. Art. 31D Taxation of rental income derived from the letting of a tenement.
62. Art. 31E Housing Authority Schemes.
63. Art. 31F Taxation of royalties on qualifying literary works.
64. Art. 32 Taxation of certain investment income by deduction.
65. Art. 32A Payor to register.
66. Art. 33 Obligation of payor to deduct tax from investment income.
67. Art. 34 Payornottodeduct tax where recipient elects to be paid gross.
68. Art. 35 Election by recipient to be paid without deduction of tax.
69. Art. 36 Obligation on recipient to declare where an election is made.
70. Art. 37 Taxwithheldunder article 33(1).
71. Art. 38 Presumption of deduction.
72. Art. 39 Where presumption applies, no need to declare.
73. Art. 40 Extent of payor’s liability.
74. Art. 41 Interpretation of the investment income provisions.
75. Art. 41A Investment income of collective investment schemes.
76. Art. 41B Powers of the Minister.
77. Art. 42 Anti-avoidance provisions.
78. Art. 43 Certain undistributed profits to be deemed to be distributed.
79. Art. 44 Special provisions in respect of certain profits deemed distributed.
80. Art. 45 Further special provision in respect of profits deemed distributed.
81. Art. 45A Conversion of a commercial partnership.
82. Art. 45B Conversion of a partnership into a company.
83. Art. 46 Loans to shareholders.
84. Art. 47 Certain distributions to shareholders or to partners deemed to be dividends or profits.
85. Art. 48 Special provisions for computation of income derived from sale or other disposal or trading stock.
86. Art. 48A Special provisions regarding certain income derived by outworkers on a part-time basis.
87. Art. 48B Special provisions regarding certain income derived under article 4(1)(a) of the Act.
88. Art. 49 Married couples.
89. Art. 50 Separate computation on certain income derived by married couples.
90. Art. 50A When arrears of pension are to be brought to charge.
91. Art. 51 Tax avoidance.
92. Art. 51A Transfer Pricing.
93. Art. 52 Advance Revenue Rulings.
94. Art. 52A Rules in respect of finance leasing.
95. Art. 52B E.U Directives and Regulations.
96. PART VII
97. Art. 56 Normal rate of tax on individuals and certain bodies of persons.
98. Art. 57 Personalretirement schemes.
99. PART IX
100. Art. 59 Deduction of tax.
101. Art. 60 Set-off of tax in certain cases.
102. Art. 61 Definitions.
103. Art. 62 Tax on dividend from untaxed account.
104. Art. 63 Presumption of deduction.
105. Art. 64 Where presumption applies.
106. Art. 65 Option for recipient to declare.
107. Art. 66 Untaxed dividend paid to non- recipient.
108. Art. 67 Payment of dividend out of taxed account or foreign income account.
109. Art. 67A Profits distributed by a collective investment scheme.
110. Art. 68 No obligation to disclose.
111. Art. 69 Extent of liability.
112. Art. 70 Chargeability of administrators, etc.
113. Art. 71 Deceased persons.
114. Art. 72 Joint trustees.
115. Art. 73 Income paid to non-resident.
116. PART X
117. Art. 74 Four reliefs of double taxation.
118. Art. 75 Interaction of the reliefs.
119. Art. 76 Double taxation arrangements.
120. Art. 77 Tax credits.
121. Art. 78 Dividends and tax credits.
122. Art. 79 Unilateral relief.
123. Art. 80 Availability of unilateral relief.
124. Art. 81 Relief by way of credit.
125. Art. 82 Credit for the underlying tax.
126. Art. 83 Limitation on the credit.
127. Art. 84 Amount of total credit.
128. Art. 85 Computation of income.
129. Art. 86 Applicability of article 85.
130. Art. 87 Dividends and tax credits, etc.
131. Art. 88 No relief without proof.
132. Art. 89 Relief in respect of Commonwealth income tax.
133. Art. 90 Relief in respect of Bearer Accounts Levy. Repealed by: XXV.1960.16.
134. Art. 90A Tax on part-time work.
135. Art. 90B Tax on overtime.
136. Art. 91 Computation of certain tax reductions.
137. Art. 92 Flat-rate foreign credit.
138. Art. 93 Amountofflat-rate foreign tax credit.
139. Art. 94 Operation of the flat-rateforeigntax credit.
140. Art. 95 Anti-avoidance provisions.
141. PART XI
142. Art. 96 Power to make rules.