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Income Tax (Amendment) Act 1999

PAPUA NEW GUINEA

Income Tax (Amendment) Act 1999

No. 5 of 1999.
Certified on: 01.09.99

ARRANGEMENT OF SECTION.

Exemption of certain interest income (Amendment of Section 35).

AN ACT

entitled

Income Tax (Amendment) Act 1999,

Being an Act to amend the Income Tax Act 1959,

MADE by the National Parliament to come into operation on 1 September 1999.

EXEMPTION OF CERTAIN INTEREST INCOME (AMENDMENT OF SECTION 35).

Section 35(2) of the Principal Act is amended by inserting after Paragraph (d) the following new paragraph:-

"(e) interest derived by an overseas non-resident financial institution from a company engaged in mining operations in Papua New Guinea.".

I hereby certify that the above is a fair print of the Income Tax (Amendment) Act 1999 which has been made by the National Parliament.

Clerk of the National Parliament.

I hereby certify that the Income Tax (Amendment) Act 1999 was made by the National Parliament on 11 August 1999.

Speaker of the National Parliament.