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#213349 - 08/13/06 03:57 PM ENTERTAINMENT TAX REPEAL  
Joined: Oct 1999
Posts: 52,634
Marty Offline
Marty  Offline
ENTERTAINMENT TAX REPEAL

Aug 10, 2006

The entertainment tax act and stamp on receipts has been repealed. A
release from the Ministry of Finance says section 62 of the stamp duties
act which requires a ten cent stamp to be placed on every receipt for
payment of ten dollars or more has been repealed as from July 1, 2006 the
date when the General Sales Tax came into force. This is in accordance
with
section 100 of the GST Act. This means that no stamp needs to be placed on
receipts for payment of money irrespective of the amount involved. The
entertainment tax has also been repealed from the same sate. All
Government
departments, public statutory bodies, financial institutions, utility
companies and other business establishments are asked to take note of
these
changes in the law and act accordingly. The release ends by saying the
abolition of stamp duty on receipts and the repeal of the Entertainment
tax
act are in part fulfillment of the tax reform measures promised by the
Government at the time of passage of the GST Act to reform the tax
structure and relieve the taxpayer of small taxes and duties.

#213350 - 08/14/06 05:57 AM Re: ENTERTAINMENT TAX REPEAL  
Joined: Jun 2005
Posts: 280
cakelee Offline
.
cakelee  Offline
What services are included in the Entertainment tax?


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