Finance Act, 1992
Alteration of rates of income tax. |
2.—(1) As respects the year of assessment 1992-93 and subsequent years of assessment— | |||||||||||||
(a) section 2 of the Finance Act, 1991 , is hereby amended by 45 the substitution of the following Table for the Table to that section: | ||||||||||||||
“TABLE | ||||||||||||||
PART I | ||||||||||||||
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PART II | ||||||||||||||
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”, | ||||||||||||||
and | ||||||||||||||
(b) any reference in the Tax Acts to the higher rates shall be construed as a reference to the higher rate. | ||||||||||||||
(2) (a) Section 198 of the Income Tax Act, 1967 , is hereby amended, as respects the year of assessment 1992-93 and subsequent years of assessment, by the substitution in subsections (1) (b) and (3) of “ section 2 of the Finance Act, 1991 ” for “ section 8 of the Finance Act, 1980 ”. | ||||||||||||||
(b) The reference to section 8 of the Finance Act, 1980 , in subsection (1) (b), and in subsection (3), of section 198 of the Income Tax Act, 1967 , shall in each case be construed and be deemed always to have been construed— | ||||||||||||||
(i) as respects the years of assessment 1984-85 to 1990-91, as a reference to section 2 of the Finance Act, 1984 , and | ||||||||||||||
(ii) as respects the year of assessment 1991-92, as a reference to section 2 of the Finance Act, 1991 . |