Section 12, Tariff Act 1978 is amended by deleting tbe rate indicat€d under

The Second Schedule oftle lrrome TaxAct 2000 is amendedln- (a) Part I by inserting the following new paragraph imredialely aierthe line relatiag to 25olo rate oftax on chargeable income of nonresident- "The rate of minimum altemate tax applicable to ronresident companies is 2olo of tumover" O) Part II by repealing and replacing that part with the following new Part Il- PARTtr (Sections 116,11?,118,119,120,121,122 znil 123) Itates ofbx ro be withheH from paymerts made to non-r€sidents: T}?e of IE'.ment Rate Employnent income (seaion 1 I6) Payments to contractors (sectionl I 7) Dividends (section I l8) Interest (section I 19) Managementlprolessional fees Relts and royalties (sectioD 120] Armuities (section l2I) Natural resouxce pa).ments (section 122) Payments Io or applications for tie benefit ol nonresident beneficiaries (sectiou 123) 25% lffio l5% 159L i 5Yo l5o/L lsa,i, 15% 15./. No. 1