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Every person chargeable with income tax for the year of assessment commencing on April 1, 1960, liable to pay a surcharge equivalent to fifteen per centum of the income tax payable by him for that year.
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2.
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(1) Every person, who is chargeable with income tax for the year of assessment commencing on April 1, 1960, shall, notwithstanding anything contained in any other written law or in any convention, grant or agreement, be liable to pay a surcharge equivalent to fifteen per centum of the amount of the income tax payable by him for that year of assessment.
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Cap. 242.
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(2) The surcharge referred to in subsection (1) shall, in the case of a non-resident company, be reckoned on the amount of income tax that would have been payable by such company for the year of assessment commencing on April 1, 1960, if the sum equal to six per centum of the taxable income of such company for that year of assessment, which should have formed part of the amount of income tax in accordance with the provisions of section 57c of the Income Tax Ordinance, had not been included in the amount of income tax.
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(3) The surcharge referred to in subsection (1) shall, in the case of any person who is entitled to a set off under subsection (4) of section 45, or under sub- section (6) or subsection (7) of section 57d, of the Income Tax Ordinance, be reckoned on the amount of income tax that would have been payable by such person for the year of assessment commencing on April 1, 1960, if such set-off had not been made.
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Cap.242
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(4) For the purposes of the assessment, payment and recovery of the surcharge referred to in subsection (1), the provisions of Chapter X, Chapter XI, Chapter XII, and Chapter XIII of the Income Tax Ordinance shall apply in all respects as though the surcharge were income tax payable for the year of assessment-commencing on April 1, 1960.
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(5) Where any person is under section 89 of the Income Tax Ordinance entitled to have refunded any amount paid by him as income tax in excess of the amount which he was properly chargeable for the year of assessment commencing on April 1, 1980, such person shall, if he has paid the surcharge referred to in subsection (1) of section 2 of this Act, be in addition entitled to have refunded an amount representing fifteen per centum of the amount refunded under the said section 89.
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” income tax ” means the tax charged and levied under the Income Tax Ordinance;
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” non-resident company” shall have the same meaning as in that Ordinance; and
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” year of assessment” shall have the same meaning as in that Ordinance.
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