Exemption from business tax

Notwithstanding anything to the contrary contained in the Income and Business Tax Act, but subject to section 5 of this Act, the Producer shall be exempt from business tax as follows– (a) total exemption for a period of five (5) years from the Commercial Operation Date; (b) partial exemption equal to 33% of business tax for a period of ten (10) years after the expiry of the period mentioned in (a) above, after which the Producer shall be liable to pay all business tax as provided from time to time in the Income and Business Tax Act. CAP. 55.