A new tax called the Crop Insurance Levy will be charged from banks, finance companies and insurance companies, amounting to one per cent on their after tax profit, with a view to covering the damages suffered by farmers in the country due to a series of natural disasters in the past year. The levy will [...]

News

Tax coming to cover crop damage

View(s):

A new tax called the Crop Insurance Levy will be charged from banks, finance companies and insurance companies, amounting to one per cent on their after tax profit, with a view to covering the damages suffered by farmers in the country due to a series of natural disasters in the past year.

The levy will be remitted to a separate account maintained and administered by the National Insurance Trust Fund Board.�The date for the imposition will be gazetted by the Finance Minister after the necessary amendments to the Finance Act are passed by Parliament.




Share This Post

DeliciousDiggGoogleStumbleuponRedditTechnoratiYahooBloggerMyspace

Advertising Rates

Please contact the advertising office on 011 - 2479521 for the advertising rates.