Nation Building Tax (Amendment) – Bill

New amendment to the NBT Act.

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Summary

This clause amends section 3 of the Nation Building Tax Act, No. 9 of 2009 (hereinafter referred to as the “principal enactment”) and the legal effect of the section as amended is to limit the period of exemption granted to certain cigarettes identified under Harmonized Commodity Description and Coding Numbers.

This clause amends the First Schedule to the principal enactment and the legal effect of the section as amended is to make provisions to-

1. limit the period of exemption granted to cigarettes identified under Harmonized Commodity Description and Coding Numbers;
2. revise the existing criteria of exemptions relating to gems exported;
3. extend the exemption to importation of certain new articles; and
4. limit the period of exemption granted to certain services.