- Management or professional fee
means any payment made to any person, other than a payment made to an employee by his employer, as consideration for any managerial, technical, agency, contractual, professional or consultancy services however calculated.
- Agency fee
means payments made to a person for acting on behalf of any other person or group of persons, or on behalf of the Government and excludes any payments made by an agent on behalf of a principal when such payments are recoverable.
- Contractual fee
means payment for work done in respect of building, civil or engineering works;
- Consultancy fee
means payments made to any person for acting in an advisory capacity or providing services on a consultancy basis.
- Training fee
means a payment made in respect of a business or user training services designed to improve the work practices and efficiency of an organization, and includes any payment in respect of incidental costs associated with the provision of such services;
Provided that training fee shall not include fees paid for educational services provided by —
- a pre-primary, primary, or secondary school;
- a technical college or university;
- an institution established for the promotion of adult education, vocational training or technical education.
means a payment made as a consideration for the use of or the right to use—
- any copyright of a literary, artistic or scientific work; or
- any cinematograph film, including film or tape for radio or television
- broadcasting; or
- any patent, trade mark, design or model, plan, formula or process or;
- any industrial, commercial or scientific equipment,
- Natural resource income means
- an amount including a premium or such other like amount paid as consideration for the right to take minerals or a living or non-living resource from land or sea; or
- an amount calculated in whole or in part by reference to the quantity or value of minerals or a living or non-living resource taken from land or sea;
(other than interest charged on tax) means interest payable in any manner in respect of a loan, deposit, debt, claim or other right or obligation, and includes any premium or discount by way of interest and any commitment or service fee paid in respect of any loan or credit or an Islamic finance return;
has the meaning assigned to it in the Betting, Lotteries and Gambling Act (Cap. 131);
Provided that this definition shall only apply in case of winnings payable to punters (players) bookmakers;
- Deemed interest
means an amount of interest equal to the average ninety-one day Treasury Bill rate, deemed to be payable by a resident person in respect of any outstanding loan provided or secured by the non-resident, where such loan is provided free of interest;