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First
Session, 48th General Assembly 65
Elizabeth II, 2016 |
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AN ACT TO AMEND THE
REVENUE ADMINISTRATION ACT NO. 5 |
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Received and Read the First Time................................................................................................. |
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Second |
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Committee.......................................................................................................................................... |
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Third |
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Royal Assent...................................................................................................................................... |
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HONOURABLE
CATHY BENNETT Minister of Finance and President of Treasury Board |
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Ordered
to be printed by the Honourable House of Assembly |
EXPLANATORY NOTE This Bill would amend the Revenue Administration Act to provide for an increase in tax on tobacco. |
A BILL AN ACT TO AMEND THE REVENUE ADMINISTRATION ACT NO. 5 Analysis 1.
S.98 R&S 2. Commencement Be it enacted by the Lieutenant-Governor and House of Assembly in Legislative Session convened, as follows: SNL2009 cR-15.01 as amended 1. Section 98 of the Revenue Administration Act is repealed and the following substituted: Rate of tax 98. The tax imposed on tobacco by this Act shall be calculated as follows: (a) for cigarettes, a tax of $0.245 on every cigarette; (b) for tobacco, other than cigarettes and cigars, a tax of $0.40 for each gram of tobacco; and (c) for cigars, a tax of 125% of the purchase price on a cigar, and the tax shall be rounded to the nearest 1/100 of a cent. Commencement 2. This Act is considered to have come into force on April 15, 2016. ©Queen's Printer |