Finance Act

(redirected from Finance Act 1996)

Finance Act

Annual legislation in the United Kingdom making changes to the tax structure. The Finance Act may raise or lower taxes or provide tax incentives for various reasons, depending on the government's financial needs. The Finance Act is passed as part of the budget process each year.
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References in periodicals archive ?
Secretary to the provincial government on Excise & Taxation, Sajid Khan told the committee that as the development cess is collected under Rule 11 of the Finance Act 1996. Therefore, he said the announcement of the provincial government did not cover tobacco development cess.

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