Section 36 - Amendment of Act 7 of 1964

Companies surtax amendment expands tax officer powers and clarifies deductible charitable contribution treatment under Income-tax law.

The amendment to the Companies (Profits) Surtax Act expressly adds an Inspector of Income-tax alongside the Income-tax Officer and corrects wording in section 3(1); it revises cross-references in section 18 by inserting additional clause and lettered subclauses; and it modifies the First Schedule by omitting one clause and substituting another to provide a deduction equal to fifty per cent of the sum with reference to which a deduction is allowable under the Income-tax Act.