The Parliament passed the Nation Building Tax (Amendment) Bill, providing amendments to certain provisions of the Nation Building Tax Act, No. 9 of 2009 (“NBT Act”). This new Amendment Act which is yet to receive the certification of the Speaker has been analysed by us based on the Nation Building Tax (Amendment) Bill presented to Parliament and amendments made at Committee stage in Parliament.
The amendments are effective from 1 April 2017 unless otherwise specifically stated. This Amendment Act is enacted mainly for amending the exempt articles and services listed in the NBT Act.
Ernst & Young Alert on Parliament amends the NBT Act revising exemptions
