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Income Tax (Audio Visual Incentives Amendment) Act 2004

FIJI ISLANDS

INCOME TAX (AUDIO VISUAL INCENTIVES AMENDMENT) ACT 2004
ACT NO. 6 OF 2004

I assent

J.I. ULUIVUDA
President

[9 March 2004]

AN ACT

FOR AN ACT TO AMEND THE INCOME TAX ACT FOR THE PURPOSE OF PROVIDING MISCELLANEOUS AMENDMENTS TO THE AUDIO VISUAL INCENTIVES IN THE SIXTH SCHEDULE

ENACTED by the Parliament of the Fiji Islands

Short title and commencement

1. This Act may be cited as the Income Tax (Audio Visual Incentives Amendment) Act 2004 and is deemed to have come into force on 1 January 2004.

Sixth Schedule Part III amended

2. Part III of the Sixth Schedule to the Income Tax Act (Cap. 201) is amended by

(a) deleting "matters" and substituting "masters" in the definition of 'approved marketing materials costs' in subparagraph 11(1) of Part III;

(b) deleting ", and includes a temporary studio city zone" in the definition of 'studio city zone' in subparagraph 11(1) of Part III;

(c) deleting 1^st January 2001 and 31st December 2004 and substituting 1st January 2001 and 31st December 2006 in subparagraph 36(2)(a);

(d) deleting 1st January 2005 and 31st December 2008 and substituting 1st January 2007 and 31st December 2010 in subparagraph 36(2)(b);

(e) deleting 1st January 2009 and substituting 1st January 2011 in subparagraph 36(2)(c);

(f) deleting 1st January 2001 and 31st December 2004 and substituting 1st January 2001 and 31st December 2006 in subparagraph 37(b)(i);

(g) deleting 1st January 2005 and 31st December 2008 and substituting 1st January 2007 and 31st December 2010 in subparagraph 37(b)(ii);

(h) deleting "1st January 2010" and substituting "1st January 2011" in subparagraph 37(b)(iii);

(i) deleting 1st January 2001 and 31st December 2004 and substituting 1st January 2001 and 31st December 2006 in subparagraph 37(c)(i);

(j) deleting 1st January 2005 and 31st December 2008 and substituting 1st January 2007 and 31st December 2010 in subparagraph 37(c)(ii);

(k) deleting 1st January 2009 and substituting 1st January 2011 in subparagraph 37(c)(iii);

(l) adding or temporary studio city zone after studio city zone to the definition of company in paragraph 44 of Part III;

(m) adding or temporary studio city zone after studio city zone to the definition of partnership in paragraph 44 of Part III;

(n) adding or temporary studio city zone after studio city zone to the definition of sole proprietorship in paragraph 44 of Part III;

(o) repealing subparagraph (2) of paragraph 45 and substituting the following subparagraph -

"(2) Subject to issue of a licence required under any written law and the Town Planning Act, the Minister may declare -

(a) a studio city zone for the purposes of development of infrastructure, services and resources for the audio visual industry and tourist attractions, hotels, residential accommodation, sporting facilities, amusement parks; and

(b) a temporary studio city zone for the purpose of development of infrastructure, services and resources for the audio visual industry.";

(p) repealing subparagraph (4) of paragraph 45 and substituting the following subparagraph-

"(4) The Minister may not declare more than one studio city zone at any time for a period of 15 years from the date the studio city zone was first declared following which period this provision will be subject to review.";

(q) repealing subparagraph (5) of paragraph 45 and substituting the following subparagraph-

"(5) The Minister may declare, by order in the Gazette, any area of land (including any buildings situated or erected on that land) to be a temporary studio city zone in order that the land (and buildings) may be used by a licensee for the purposes of developing infrastructure, services and resources for the audio visual industry.";

(r) repealing subparagraph (6) of paragraph 45 and substituting the following subparagraphs-

"(6) The Minister may within the next 5 years declare more than one temporary studio city zone.

(7) A temporary studio city zone may be used as an interim facility for up to 10 years from the date that the temporary studio city zone was first declared by the Minister.";

(s) adding or in a temporary studio city zone after studio city zone in paragraph 46; and

(t) repealing subparagraph 48(2)(a) and substituting the following subparagraph-

"(a) the applicant has either entered into a contract to operate from facilities in the studio city zone and will engage in a production activity; or the applicant has been granted the right to operate in a temporary studio city zone under paragraph 45 and will engage in a production activity.".

Sixth Schedule Part IV amended

3. Part IV of the Sixth Schedule to the Income Tax Act (Cap. 201) is amended by-

(a) deleting "and" and substituting "or after current affairs series;" at the end of 65-15(1)(d)(ii) and adding the following sub-paragraph-

"(iii) a film for exhibition as an advertising programme or a commercial.";

(b) repealing subparagraph 65-15(1)(e); and

(c) deleting "$50,000" and substituting "$250,000" in subparagraph 65-15(1)(f).

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Passed by the House of Representatives this 11^th day of February, 2004.

Passed by the Senate this 4^th day of March, 2004.