Section 65
of Investment Incentives Order, 2001
Section 65
The tax relief period of an international trading company, in relation to any certificate issued to that company, shall commence on the commencement day and shall continue for a period of 8 years.
Power to give directions 66.
For the purposes of the Income Tax Act and this Order, the Collector may direct that –
(a)
any sums payable to an international trading company 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 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, where that date is after the end of the tax relief period of the international trading company, as having been so payable on that date as a sum payable in respect of its post tax relief trade or business; and
(b)
any expenses incurred by an international trading company within one year after the end of its tax relief period which, but for the provisions of this Order might reasonably 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
Incorporating amendments until S 5/2011
(Cleancopy) NANI/H.AFIF/fiqah _ as of 11th March 2020
46
BLUV as at 16th February 2011
within that year but as having been incurred on such date, during its tax relief period, as the Collector thinks fit.
Application of Part X of Income Tax Act.