Inland Revenue Bill will be taken up for debate next week | Daily News

Inland Revenue Bill will be taken up for debate next week

 

The Inland Revenue Bill is scheduled to be taken up for debate in Parliament next week.

A full day debate has been facilitated on the Bill on August 25 from 11.30am to 7.30pm. 

The Government will move further amendments to the Bill at its committee stage.

The Supreme Court determined that several clauses in the Inland Revenue Bill were inconsistent with the Constitution. 

The Government said it would duly amend the problematic clauses as per the determination of the Supreme Court. 

The Government presented the Inland Revenue Bill in Parliament for the first reading on July 5. The Bill is to provide for the imposition of Income Tax for any year of assessment commencing on or after April 1, 2017. 

The Bill, among other things, introduces a new income tax structure and is aimed at closing existing loopholes in revenue collection


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