COMPANIES (SPECIAL LICENCES) ACT, 2003

SCHEDULE 2
RATES OF TAX

Section 21

1. The rate of the tax payable by a relevant company in respect of its taxable income is 1.5%.

2. The rates of withholding tax under Part IV of the Business Tax Act are as follows;-

(a) in respect of dividend paid to a resident -Nil

(b) in respect of dividend paid to a non-resident-Nil

(c) in respect of interest paid to a resident -Nil

(d) in respect of interest paid to a non-resident - Nil

(e) in respect of royalty paid to a non-resident for the use of. or the right to use any copyright, patent, design or model or plan or trademark - Nil

(f) in respect of royalty paid to a non-resident in respect of the supply of scientific, technical, industrial or commercial knowledge, information or services-Nil

(g) in respect of royalty paid to a non-resident for the use of, or the right to use, any secret formula, processor know-how whether the know-how is technical. managerial or otherwise and any other intellectual property or right-Nil

(h) in respect of royalty paid to a non-resident for the use of, or the right to use. any industrial, commercial or scientific equipment-Nil.