Rates of taxes upon persons other than companies

(1) Commencing from the first day of the basis year 1999 and for each subsequent basis year, the tax on the chargeable income of every employed person shall be charged at the rate of twenty-five per centum of the chargeable income. (2) On gross interest income from time deposits, there shall be charged a tax of 5%, which shall be a final tax. 31 (3) On gross winnings from lottery or other similar activity, there shall be charged a tax at the rate of 15% of such winnings, which shall be a final tax. (4) The tax specified in sub-sections (2) and (3) of this section shall be collected at source.