Surtax rate reduction for companies decreases applicable surtax liability under the Companies (Profits) Surtax Act from a prior higher rate. The Companies (Profits) Surtax Act, 1964 Third Schedule is amended by omitting the figure '1' before 'On the amount by which' and substituting the surtax rate of 35 per cent. with 25 per cent., the new rate taking effect from the first day of April, 1969.
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Surtax rate reduction for companies decreases applicable surtax liability under the Companies (Profits) Surtax Act from a prior higher rate.
The Companies (Profits) Surtax Act, 1964 Third Schedule is amended by omitting the figure "1" before "On the amount by which" and substituting the surtax rate of 35 per cent. with 25 per cent., the new rate taking effect from the first day of April, 1969.
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