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             ACTS OF GHANA

                                                                    

                     FOURTH   REPUBLIC

                 

                                                                  ACT 814

 

THE EIGHT HUNDRED AND FOURTEENTH

ACT

          OF THE PARLIAMENT OF THE REPUBLIC OF GHANA

ENTITLED

INTERNAL REVENUE (AMENDMENT) ACT, 2010

        AN ACT to amend the Internal Revenue Act, 2000 (Act 592)


DATE OF ASSENT
: 31st December, 2010

Passed by Parliament and assented to by the President;

Section 11 of Act 592 amended

1. Section 11 of the Internal Revenue Act 2000 (Act 592) is amended (a) by the substitution for subsection (6) of

"(6) The income of a company from a business of construction for sale or letting of low cost affordable residential premises is ex- empted from tax for a period of five years of assessment commencing from and including the year in which operations are commenced.

(b) by the insertion of new paragraphs

(6) (A) A company engaged in the construction for sale or let-ting of low cost affordable residential premises shall be issued with  a certificate certifying that it is engaged in the construction of low  cost affordable residential premises by the Minister responsible for Works and Housing"

(6)(B) The Minister in consultation with the Minister responsible for Works and Housing shall, by Legislative Instrument make Regulations for the effective implementation of subsection (6) ."

Section 39 of Act 592 amended

2. Section 39 of the principal enactment is amended by the substitution

for;

(a) "thirty-five" in paragraphs (a) and (c) of "hundred";
(b) "thirty" in paragraph (d) of hundred";

(c) "twenty-five" in paragraph (e) of fifty"; and

(d) "hundred" in paragraph (t) of "two hundred".

Section 84 of Act 592 amended

3. Section 84 of the principal enactment is amended in subsection (2) by the substitution for "fifty currency points" of "five hundred currency points".

Fourth Schedule of Act 592 amended

4. The Fourth Schedule of the principal enactment is amended by the substitution for "5%" of" 15%" .

                 Date of Gazette notification: 31st December, 2010

GPCLlASSEYlBLY PRESS, ACCRA.     GPCLlA7081l2/350/2010

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