Act 32 2023 - Act 32 - 2023 - Political Parties (Registration and Regulation) (Amendment) Act 2023

[22nd Decemb e r 2 0 2 3 ] P olitical Parties (Amendment) Act 716 REPUBLIC OF SEYCHELLES SUPPLEMENT TO OFFICIAL GAZETTE ACT POLITICAL PARTIES (REGISTRATION AND REGULATION) (AMENDMENT) ACT, 2023 (Act 32 of 2023) ARRANGEMENT OF SECTIONS SECTIONS PART I - PRELIMINARY 1. Short title PART II - AMENDMENT TO THE POLITICAL PARTIES (REGISTRATION AND REGULATION) ACT 2. Amendment of section 26 PART II - CONSEQUENTIAL AMENDMENTS TO THE BUSINESS TAX ACT (CAP 20) 3. Amendment of section 15 4. Amendment of Second Schedule [22nd Decemb e r 2 0 2 3 ] P olitical Parties (Amendment) Act 717 REPUBLIC OF SEYCHELLES SUPPLEMENT TO OFFICIAL GAZETTE ACT POLITICAL PARTIES (REGISTRATION AND REGULATION) (AMENDMENT) ACT, 2023 (Act 32 of 2023) I assent Wavel Ramkalawan President 19th December, 2023 AN ACT TO AMEND THE POLITICAL PARTIES (REGISTRATION AND REGULATION) ACT, 1995 AND TO MAKE CONSEQUENTIAL AMENDMENTS TO THE BUSINESS TAX ACT. ENACTED by the President and the National Assembly. PART I - PRELIMINARY Short title 1. This Act may be cited as the Political Parties (Registration and Regulation) (Amendment) Act, 2023. [22nd Decemb e r 2 0 2 3 ] P olitical Parties (Amendment) Act 718 REPUBLIC OF SEYCHELLES SUPPLEMENT TO OFFICIAL GAZETTE ACT PART II - AMENDMENT TO THE POLITICAL PARTIES (REGISTRATION AND REGULATION) ACT Amendment of section 26 2. Section 26 of the Political Parties (Regulation and Registration Act), 1995 is repealed and substituted with the following — “26. A political party registered pursuant to section 3 shall be exempt from tax insofar as — (a) pursuant to Section 24(4D), its income relates to moneys received in the form of donations, gifts and membership subscriptions; and (b) its income relates to moneys of the Fund established pursuant to section 27 of this Act.” PART III - CONSEQUENTIAL AMENDMENTS TO THE BUSINESS TAX ACT (CAP 20) Amendment of section 15 3. Section 15 of the Business Tax Act, in this Part referred to as the “principal Act”, is amended — (a) by deleting in subsection (1) the words “an amount is not allowed as a deduction if the amount” and replacing it with the words “For the purpose of determining what constitutes taxable income pursuant to section 10, the items in the following list shall be construed as non-deductibles”- ; and (b) by inserting after paragraph (j) the following new paragraph — “(k) a gift or donation, given to a political party registered pursuant to the Political Parties (Registration and Regulations) Act.” [22nd Decemb e r 2 0 2 3 ] P olitical Parties (Amendment) Act 719 REPUBLIC OF SEYCHELLES SUPPLEMENT TO OFFICIAL GAZETTE ACT Amendment of Second Schedule 4. The Second Schedule to the principal Act is amended by inserting after item 24, the following new item — “25. Income accruing to a political party registered under the Political Parties (Registration and Regulation) Act obtained from — (a) the Political Parties Financial Support Fund established under Section 27 of the Political Parties (Registration and Regulation) Act; (b) donations; (c) gifts; and (d) membership subscriptions.”. I certify that this is a correct copy of the Bill which was passed by the National Assembly on 12th December, 2023. Mrs. Tania Isaac Clerk to the National Assembly