Inland Revenue.
(b) provide for any matter which by this Ordinance
is to be or may be prescribed.
(3) Such rules may prescribe fines recoverable on summary conviction for any contravention thereof or failure to comply therewith not exceeding in each case a sum of two hundred dollars.
(4) All such rules made by the Board of Inland Revenue shall be submitted to the Governor, and shall be subject to the approval of the Legislative Council.
[86]
[CAP. 112
Inland
86. The Board of Inland Revenue may prescribe any forms which may be necessary for carrying this Ordinance into effect.
Board of
Inland
Revenue to
prescribe
[87] forms.
General power of Governor in Council
87. The Governor in Council may by order exempt any person, office or institution from payment of the whole or any portion of any tax chargeable under this Ordinance.
[89] to exempt.
of charitable,
and educa-
tional bodies. 30 of 1950,
3 of 1019, s.18.
Schedule.
88. Notwithstanding anything to the contrary in this Ordinance contained there shall be exempt and there shall be deemed always to have been exempt from tax any charitable, ecclesiastical or educational institution of a public character: Provided that where a trade or business is carried on by any such institution the profits derived from such trade or business shall be exempt and shall be deemed to have been exempt from tax only if such profits are applied solely for charitable purposes and either-
(a) the trade or business is exercised in the course of the actual carrying out of a primary purpose of such institution; or
(b) the work in connexion with the trade or business is mainly carried on by persons for whose benefit such institution is established.
[89A]
FIRST SCHEDULE
Standard Rate.
[ss. 2, 5, 14, 15, 28, 29.]
30 of 1950, Schedule.
For the year of assessment 1947/48 and until superseded-Ten per cent. For the year of assessment 1950/51 and until superseded - Twelve and one-half per cent.
357
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