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held directly or through nominees, and shares in one company held by or on behalf of another company shall be deemed to be held by the shareholders of the last-mentioned company.

(2) Where a non-resident person carried on business with a resident person with whom he is closely connected and the course of such business is so arranged that it produces to the resident person either no profits or less than the ordinary profits which might be expected to arise, the business done by the non-resident person in pursuance of his connexion with the resident person shall be deemed to be carried on in the Colony, and such non-resident person shall be assessable and chargeable with tax in respect of his profits from such business in the name of the resident person as if the resident person were his agent, and all the provisions of this Ordinance shall apply accordingly.

nesses to be computed on

certain busi-

20. Where the Commissioner in his discretion considers Profits of 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 a percentage computed on a fair percentage of the turnover of that trade turnover. or business in the Colony :

Provided that the amount of such percentage shall be subject to appeal in accordance with the provision of Chapter VII.

of the

of partner-

21.--(1) Where a trade. profession or business is Assessment carried on by two or more persons jointly, the tax in respect ships. 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 accord- ance 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) Tax upon the partnership shall be recoverable by all means provided in this Ordinance out of the assets of the partnership, or from any partner, or from the manager or agent of the partnership in the Colony.

(4) Where under this section profits have been assessed in the name of a partnership, and a change occurs in such partnership by reason of retirement or death, or the dissolu- tion 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 were joint owners of the assets of such partnership continues to be owner or joint owner of such assets, the person or partnership becoming owner of such assets in consequence of such change shall be charged with the said tax or any part of it which remains unpaid, and the provisions of Chapter VIII shall apply to such person or partnership accordingly.

22.-(1) A non-resident person shall be assessable Persons either directly or in the name of his agent in respect of all his profits made from transactions in the Colony of any non-resident

assessable on behalf of a

person.

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