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The business levy is payable quarterly at the rate of 0.6% of the gross sales and receipts of the company. Payments of corporation tax are set off against the business levy liability of the company in the following year when returns are filed. The individual taxpayer is entitled to a tax credit against his business levy liability for a year of income of any payment made in respect of his income tax liability for that year up to a maximum of his business levy liability.

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