Increases forProfessionals
The Government has amended the Trade andBusiness Licensing Law (2001 Revision).
The Trade and Business Licensing Order,2002, may be found in Supplement No. 4 published with ExtraordinaryGazette No. 5 dated 14 January 2002.
The Trade and Business Licensing Order,2002, amends the schedule of fees for accountants, lawyers andother professionals.
These fees are in addition to any otherfees as prescribed in the Trade and Business Licensing Schedule.
Accountancy firms with 1-5 accountants andother professionals are exempt from paying a licensing fee. Afirm with from 6-10 accountants and other professionals pays alicensing fee of $15,000; a firm with 11-15 pays $30,000; 16-20pays $45,000; 21-25 pays $160,000; a firm employing 26 or moreaccountants and other professionals pays $300,000.
Law firms with 1-5 lawyers and other professionalsare exempt from paying a licensing fee. A firm with from 6-10lawyers and other professionals pays a licensing fee of $15,000;a firm with 11-15 pays $30,000; 16-20 pays $45,000; 21-25 pays$160,000; a firm employing 26 or more lawyers and other professionalspays $300,000.
Firms of professionals other than accountantsand lawyers with 1-5 professionals are exempt from paying a licensingfee. A firm with from 6-10 professionals pays a licensing feeof $15,000; a firm with 11-15 pays $25,000; 16-20 pays $40,000;21-25 pays $50,000; a firm employing 26 or more professionalspays $100,000.
The Trade and Business Licensing Order,2002, defines "firm" as company, partnership or otherbusiness enterprise, and "member" as partner, director,associate or other professional employee. "Professional"includes accountant, actuary, architect, engineer, lawyer, statisticianand surveyor.
The Supplement is on sale at the LegislativeAssembly.