Finance Act, 1969
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PART VIII Wholesale Tax | ||
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Rates of wholesale tax. |
57.—(1) The following subsection shall be substituted for subsection (1) of section 7 of the Finance (No. 2) Act, 1966 : | |
“(1) Wholesale tax shall be fifteen per cent, of that part of the taxable turnover, as defined by this section, of the accountable person which relates to the sale of any goods of a kind specified in the Table to this subsection and shall be ten per cent, of the remainder of the taxable turnover as so defined, and the amount of tax chargeable during every month shall be paid after the expiration of the month in accordance with regulations. | ||
TABLE | ||
(Wholesale Tax) | ||
(1) Motor vehicles designed and constructed for the conveyance of persons by road including sports motor vehicles, estate cars, station wagons, motor cycles, motor scooters, mopeds and auto cycles, but not including vehicles designed and constructed for the carriage of more than sixteen persons (inclusive of the driver), invalid carriages and other vehicles of a type designed for use by invalids or infirm persons. | ||
(2) Caravans, including mobile homes. | ||
(3) Ships, boats or other vessels designed and constructed for the conveyance of passengers and not exceeding one hundred tons gross; and sports and pleasure craft of all descriptions including yachts, cabin cruisers, dinghies, canoes, skiffs and racing boats. | ||
(4) Radio receiving sets and television receiving sets of the domestic or portable type including sets suitable for use in road vehicles. | ||
(5) Gramophones, radiogramophones, record players and electric gramophone record reproducers. | ||
(6) Gramophone records.” | ||
(2) The following subsection shall be substituted for subsection (1) of section 11 of the Finance (No. 2) Act, 1966 : | ||
“(1) Sections 3 and 5 to 10 of this Act shall not apply to wholesale tax provided for by section 2 (b) of this Act and that tax shall, subject to subsection (2) of this section, be charged on every article which is of a kind specified in the Table to section 7 (1) of this Act and is imported on or after the 1st day of June, 1969, at the rate of fifteen per cent, of the value of the article and on every other article so imported at the rate of ten per cent, of the value of the article.” | ||
(3) This section shall have, and be deemed to have had, effect as on and from the 1st day of June, 1969. |