ACT
(Acts 33 of 2019 and 15 of 2020)
Act 33 of 2019 .. in force 23 December 2019
Amended by Act 15 of 2020 .. in force 30 December 2020
ARRANGEMENT OF SECTIONS
PRELIMINARY
| 1. | Short title |
| 2. | Interpretation |
| 3. | Non-application |
PART I
ADMINISTRATION
| 4. | Competent Authority |
| 5. | Function of the Competent Authority |
| 6. | Delegation by the Competent Authority |
| 7. | Power to require the production of information |
| 8. | Power to enter premises to obtain information |
| 9. | Power to declare a relevant entity |
| 10. | Power to exempt a relevant entity |
PART II
ECONOMIC SUBSTANCE REQUIREMENTS
| 11. | Requirements for economic substance |
| 11A | Investigative powers of the Competent Authority |
| 12. | Core income-generating activities |
| 13. | Economic substance return |
| 14. | Assessment by the Competent Authority |
| 15. | Notice to comply |
| 16. | Failure to adhere to notice to comply |
| 17. | Failure to adhere to notice to comply in a subsequent year of income |
| 18. | Appeal |
| 18A. | Provision of false information |
PART III
MISCELLANEOUS
| 19. | Avoidance |
| 20. | Confidential information |
| 21. | Secrecy |
| 22. | Indemnity against liability for acts done |
| 23. | Amendment of Schedule |
| 24. | Guidelines |
| 25. | Regulations |
| Schedule 1 | |
| Schedule 2 | |
AN ACT to require a relevant entity to satisfy economic substance requirements in order to qualify for a tax exemption on income that has accrued from a source outside of Saint Lucia and for related matters.
Commencement [23 December 2019]