Income Tax Rates Amendment (Sovereign Entities) Act 2019 (36 of 2019)

Schedule 1   Amendments

Income Tax Rates Act 1986

3   After section 29

Insert:

30 Rate of tax payable by sovereign entities

The rate of tax payable in respect of the taxable income of a sovereign entity is 30%, unless another provision of this Part sets the rate of tax in respect of that taxable income.