CO129-595-3 Proposed introduction of income tax 12-12-1946 - 26-1-1947 — Page 53

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22.

Where the Commissioner in his descretion considers that the true

amount of the profits of a non-resident person in respect of a trade,

profession or business carried on in the Colony cannot be readily

ascertained, such profits may be computed on a fair percentage of the

turnover of that trade or business in the Colony:

Provided that the amount of such percentage shall be subject

to appeal in accordance with the provisions of Chapter VIII.

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23. (1) Where a trade, profession or business is carried on by two or

more persons jointly, and they have not elected to be severally

assessed under the provisions of Chapter VII the tax in respect

thereof shall be computed and stated jointly in one sum and a joint

assessment shall be made in the partnership name.

(2) The precedent partner shall make and deliver a statement of

the profits or losses of such trade, profession or business, on behalf

of the partnership, ascertained in accordance with the provisions of

this Chapter relating to the ascertainment of profits.

Where no active partner is resident in the Colony the return

shall be furnished by the manager or agent of the partnership in

the Colony.

(3) If after the 31st day of March, 1946, a change occurs in

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a partnership of persons carrying on any trade, profession or business,

by reason of retirement or death, or the dissolution of the partnership

as to one or more of the partners, or the admission of a new partner,

in such circumstances that one or more of the persons who until that

time were engaged in the trade, profession or business continue to be

engaged threin, or a person who until that time was engaged in any

trade, profession or business on his own account continues to be engaged

in it, but as a partner in a partnership, the tax payable by the person

or persons who carry on the trade, profession or business after that

time shall, notwithstanding the change be computed according to the

profits or gains of the trade, profession or business in accordance

with section 20 as if no such change had occurred: Provided that on

application made in writing by all the persons engaged in the trade,

profession or business both immediately before and immediately after

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