Income and Business Tax Act definition

Income and Business Tax Act means the Income and Business Tax Act, Cap. 55 and any statutory modifications thereto;
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Examples of Income and Business Tax Act in a sentence

  • Accordingly, for the purposes of this arbitration, the Tribunal concludes that an English arbitral tribunal in a hypothetical further arbitration pursuant to the Accommodation Agreement would consider the Accommodation Agreement Award to be dispositive of the matter of apparent authority, notwithstanding the intervening decision of the CCJ on the content of section 95 of the Income and Business Tax Act, and would award damages on that basis.

  • The Parties are also in agreement that no court in Belize has directly ruled on the validity of the Accommodation Agreement.194 The Tribunal agrees with the Respondent, however, that in ruling on the enforceability of the Settlement Deed Award the CCJ was directly called on to interpret Section 95 of the Income and Business Tax Act and that the decision is therefore relevant to the question of the Accommodation Agreement.

  • In accordance with provisions of the Income and Business Tax Act, as amended, Chapter 55 of the Laws of Belize, the Council is exempted from income taxation on its revenues.

  • These weaknesses were complicated by uncertainty over tax-filing obligations: Section 109(1) of the Income and Business Tax Act requires businesspersons and entities to file tax returns, failing which Section 109(2) prescribes the penalties for non-compliance.

  • The Income and Business Tax Act does not impose substance requirements for companies benefitting from the tax exemption.

  • Moreover, the tax exemption on foreign source income under the Income and Business Tax Act covers a much broader range of entities and income.

  • The Fiscal Incentive Order.(5) An exemption from any tax granted under this Act shall not exempt the person to whom the exemption is granted from any requirement under the Income and Business Tax Act to file any return required under the Income and Business Tax Act or the payment of any tax for which no exemption is granted.

  • Governor-General 23rd December, 2019 AN ACT to amend the Income and Business Tax Act, Chapter 55 of the Laws of Belize, Revised Edition 2011, to provide for taxation of foreign-source receipts under the business tax; and to provide for matters connected therewith or incidental thereto.

  • The requirement of the Income and Business Tax Act which dictates that any taxes remitted by the Minister be published in the gazette was also not fulfilled.While the regulations do not allow for the Commissioner of Income Tax to approve write off of taxes, the following suggestions and recommendations were made as a result of the inspection.

  • In other words, sections 100 and 102 of the Income and Business Tax Act do not unambiguously say that the Contractor cannot deduct from its gross revenue derived from petroleum operations, those operation expenses from other Production Sharing Agreements not then in commercial production.

Related to Income and Business Tax Act

  • Income Tax Act means the Income Tax Act, 1962 (Act No. 58 of 1962);

  • Tax Act means the Income Tax Act (Canada).

  • Unitary business means a single economic enterprise that is made up either of separate parts of a single business entity or of a group of business entities under common ownership that are sufficiently interdependent, integrated, and interrelated through their activities so as to provide a synergy and mutual benefit that produces a sharing or exchange of value among them and a significant flow of value among the separate parts. "Unitary business" shall be construed to the broadest extent permitted under the Constitution of the United States. A business conducted by a partnership which is in a unitary business with the combined group shall be treated as the business of the partners that are members of the combined group, whether the partnership interest is held directly or indirectly through a series of partnerships, to the extent of a partner's distributive share of partnership income. The amount of partnership income to be included in the partner's entire net income shall be determined in accordance with subsection a. of section 3 of P.L.2001, c.136 (C.54:10A-15.6) or subsection a. of section 4 of P.L.2001, c.136 (C.54:10A-15.7), as applicable. A business conducted directly or indirectly by one corporation is unitary with that portion of a business conducted by another corporation through its direct or indirect interest in a partnership.

  • Separate Business means each of the activities of the Licensee connected

  • Sales Tax Revenues means taxes collected under the Virginia Retail Sales and Use Tax Act

  • Tax roll means a permanent record of the taxes charged on property, as extended

  • Payroll Tax Executive Order means the Presidential Memorandum on Deferring Payroll Tax Obligations in Light of the Ongoing COVID-19 Disaster, as issued on August 8, 2020 and including any administrative or other guidance published with respect thereto by any Governmental Authority (including IRS Notice 2020-65).

  • Income Tax Returns means all Tax Returns relating to Income Taxes.

  • food business means any undertaking, whether for profit or not and whether public or private, carrying out any of the activities related to any stage of production, processing and distribution of food;

  • Qualified business means an eligible business that:

  • Integrated Goods and Services Tax Act means the Integrated Goods and Services Tax Act, 2017;

  • Income Tax Return means any Tax Return relating to Income Taxes.

  • Goods and Services Tax (Compensation to States) Act means the Goods and Services Tax (Compensation to States) Act, 2017;

  • Income Taxes means any Tax which is based upon, measured by, or calculated with respect to (i) net income or profits (including, but not limited to, any capital gains, gross receipts, value added or minimum Tax) or (ii) multiple bases (including, but not limited to, corporate franchise, doing business or occupation Taxes) if one or more of the bases upon which such Tax may be based, by which it may be measured, or with respect to which it may be calculated is described in clause (i) of this sentence.

  • Core Business means any material line of business conducted by the Company and its Subsidiaries as of the Closing Date and any business directly related thereto.

  • Significant business transaction means any business transaction or series of transactions that, during any one fiscal year, exceeds the lesser of $25,000 or 5 percent of the total operating expense of a provider.

  • home business means a business, service or profession carried out in a dwelling or on land around a dwelling by an occupier of the dwelling which —

  • Disadvantaged Business Enterprise (DBE) means a small business concern pursuant to ORS 200.005(1), which is at least 51 percent owned by one or more socially and economically disadvantaged individuals, or, in the case of any corporation, at least 51 percent of the stock of which is owned by one or more socially and economically disadvantaged individuals and whose management and daily business operations are controlled by one or more of the socially and economically disadvantaged individuals who own it.

  • Income Tax Expense means for Borrower and its Subsidiaries, on a consolidated basis for any period, all state and federal income taxes paid or due to be paid during such period.

  • Disabled Business Enterprise means a business owned by a person with a disability that is a continuing, independent, for-profit business that performs a commercially useful function, and is at least fifty-one (51%) owned and controlled by one (1) or more persons with a disability, or, in the case of any publicly-owned business, at least fifty one percent (51%) of the stock of which is owned and controlled by one(1) or more persons with a disability and whose management and daily business operations are under the control of one (1) or more persons with a disability.

  • Small disadvantaged business concern means a small business concern that represents, as part of its offer that—

  • Small Business Enterprise (SBE) means a business that is certified as an SBE under this program or the following similar programs and meeting the below economic thresholds (Section III “Economic Size Standards”).

  • Tax Revenues means the Personal Income Taxes and such other revenues, including Alternative Revenues (but excluding Building Aid), as the Authority may derive directly from the State from taxes imposed by the City or the State and collected by the State.

  • Covered Business means (A) during the term, any business in which the Company is engaged and (B) after the Term, any business in which the Company was engaged as of the end of the Term.

  • Uniform business entity application means the current version of the NAIC Uniform Business Entity Application for resident and nonresident business entities.

  • Disadvantaged Business Enterprise means a for-profit small business concern that is at least 51% owned by one or more individuals who are both socially and economically disadvantaged individuals or, in the case of a corporation, in which 51% of the stock is owned by one or more such individuals; and whose management and daily business operations are controlled by one or more socially and economically disadvantaged individuals who own it.