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Hon. Mr. Bowden LAND AND INCOME TAX ANALYSIS

Title. 1. Short Title and commencement. 2. Interpretation. 3. Defining when a company is under the control of any persons. 4. Meaning of expression " dividends." 5. Application to Cook Islands. PART I Administration 6. Commissioner and Deputy Commissioner of Taxes. 7. Powers of Deputy Commissioner. 8. Second Deputy Commissioner of Taxes. " 9. Superintendents. 10. Appointment of other officers. 11. Officers to maintain secrecy. PAT?T TT Returns and Assessments 12. Annual returns by taxpayers for purposes of land tax. 13. Annual returns by taxpayers for purposes of income tax. 14. Returns to annual balance date. 15. Consequential adjustments on change in return date. 16. Returns by partners, cotrustees, and joint adventurers. 17. Commissioner may in certain eases demand special returns and make special assessments. 18. Other annual returns. 19. Dates by which returns to be furnished. 20. Commissioner may require other returns to be made. 21. Presumption as to authority.

22, Commissioner to make assessments. 23. Basic rates of income tax. 24. Arbitrary assessment where business controlled by nonresidents appears to produce insufficient taxable income. 25. Assessment where default made in furnishing returns. 26. Amendment of assessments. 27. Reassessment for income tax where return date is between 31st March and Ist October. 28. Limitation of time for amendassessment. Validity of assessments not affected by failure to comply Act. Except m proceedings on objection, assessments deemed ?° rrec^Evidence of returns and assessments. 32. Notice of assessment to taxpayer. 33. Returns by executors or administrators. PART 111 Objections to Assessments 34. Objections to assessments, how originated. 35. Commissioner may amend assessment, or objection may be submitted to Magistrate. 36. Hearing of objections by Magistrate. 37. Burden of proof on objector. 38. Costs. 39. Court may confirm,' cancel, or alter assessment. 40. Appeals to Supreme Court. 41. Notice of appeal to Supreme Court.

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