Commencement of taxation amendment: Taxation Laws Second Amendment Act amends income tax and finance statutes and takes effect immediately. The statute is titled the Taxation Laws (Second Amendment) Act, 2016 and, unless the Act otherwise provides, its provisions come into force immediately. The Act effects amendments to existing tax legislation, specifically the Income tax Act, 1961 and the Finance Act, 2016, thereby modifying the statutory taxation framework through the inserted and amended provisions set out in the Act.
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Commencement of taxation amendment: Taxation Laws Second Amendment Act amends income tax and finance statutes and takes effect immediately.
The statute is titled the Taxation Laws (Second Amendment) Act, 2016 and, unless the Act otherwise provides, its provisions come into force immediately. The Act effects amendments to existing tax legislation, specifically the Income tax Act, 1961 and the Finance Act, 2016, thereby modifying the statutory taxation framework through the inserted and amended provisions set out in the Act.
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