Ports and Airports Development Levy (Amendment) Act, No. 5 of 2020.
Country
Type of law
Legislation
Abstract
This Act amends the Ports And Airports Development Levy Act, No. 18 Of 2011.
Section 3 of the Ports and Airports Development Levy Act, No. 18 of 2011 is amended by the repeal of subsection (1) thereof and substitution therefor of the following subsection: “(1) The levy to be charged and levied in respect of the cost, insurance and freight value of any article referred to in section 2 shall be calculated – (a) at the rate of 5.0 per centum,for the period commencing on January 1, 2011 and ending on December 31, 2015; (b) at the rate of 7.5 per centum,for the period commencing on January 1, 2016 and ending on December 5, 2019; and (c) at the rate of 10 per centum, on and after December 6, 2019 .”.
Section 3 of the Ports and Airports Development Levy Act, No. 18 of 2011 is amended by the repeal of subsection (1) thereof and substitution therefor of the following subsection: “(1) The levy to be charged and levied in respect of the cost, insurance and freight value of any article referred to in section 2 shall be calculated – (a) at the rate of 5.0 per centum,for the period commencing on January 1, 2011 and ending on December 31, 2015; (b) at the rate of 7.5 per centum,for the period commencing on January 1, 2016 and ending on December 5, 2019; and (c) at the rate of 10 per centum, on and after December 6, 2019 .”.
Attached files
Web site
Date of text
Repealed
No
Source language
English
Legislation Amendment
No