Section 10
For the purposes of the Income Tax Act and this Order, the Collector may direct that –
of Investment Incentives Order, 2001
(a)
any sums payable to a pioneer enterprise in any accounting period which, but for the provisions of this Order, might reasonably and properly have been expected to be payable, in the normal course of business, after the end of that period shall be treated –
Incorporating amendments until S 5/2011
(Cleancopy) NANI/H.AFIF/fiqah _ as of 11th March 2020
8
BLUV as at 16th February 2011
(i)
as not having been payable in that period but as having been payable on such date, after that period as the Collector thinks fit;
and
(ii)
where that date is after the end of the tax relief period of the pioneer enterprise, as having been so payable, on that date, as a sum payable in respect of its new trade or business;
(b)
any expense incurred by a pioneer enterprise within one year after the end of its tax relief period which, but for the provisions of this Order, might reasonable and properly have been expected to be incurred, in the normal course of business, during its tax relief period shall be treated as not having been incurred within that year but as having been incurred –
(i)
for the purposes of its old trade or business; and
(ii)
on such date, during its tax relief period, as the Collector thinks fit.
Ascertainment of income in respect of old trade or business.