Print Options

(1) For the avoidance of doubt, the levy imposed under section 1 shall, subject to subsection (2), apply to all companies notwithstanding any provision to the contrary in any enactment relating to a tax holiday or exemption from direct or indirect tax applicable to a company.

(2) The levy imposed under section 1 shall not apply to rural or community banks. [As inserted by National Reconstruction Levy (Amendment) Act, 2002 (Act 619), s.1].