Revised Laws of Saint Lucia (2021)

2.   Interpretation

In this Act—

“company” means a company incorporated in the island under any law in force;

“construction day” means the day specified in a development order under section 8(b), or in any amendment thereof under section 10;

“date of production” means the date specified in a development order under section 8(c), or in any amendment thereof under section 10;

“declared benefit” means such percentage relief during the tax holiday period—

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   (a)     in regard to income tax, from the whole of the chargeable income of a development company in respect of profits or gains earned from the operation of the development enterprise; and

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   (b)     in regard to customs duty, from the whole of the customs duty otherwise leviable on articles imported by a development company but for the provisions of this Act, subject to the provisions of section 13,

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   as may be specified in a development order relating to the development company or in an order applicable to it made under section 9(2);

“development company” means a company so declared in a development order;

“development enterprise” means an enterprise so declared in a development order;

“development order” means an order made under section 5;

“development premises” means the premises specified in a development order under section 8(a), or in any amendment thereof under section 10;

“income tax” means the tax payable by companies under the Income Tax Act;

“Minister” means the member of Cabinet responsible for the subject of trade and industry;

“tax holiday period” means a period commencing from the date of the development order and terminating 7 years after the date of production.