No. S 696
Income Tax Act
Income Tax (Concessionary Rate of Tax for Shipping Investment Manager) Regulations 2010
1. These Regulations may be cited as the Income Tax (Concessionary Rate of Tax for Shipping Investment Manager) Regulations 2010 and shall be deemed to have come into operation on 1st March 2006.
2. Tax at the rate of 10% shall be levied and paid for each year of assessment on the income derived on or after 1st March 2006 by an approved shipping investment manager from managing an approved shipping investment enterprise.
3. For the purpose of regulation 2, the Comptroller shall determine —
the income chargeable to tax of an approved shipping investment manager having regard to such expenses, capital allowances and donations allowable under the Act as are, in his opinion, to be deducted in ascertaining such income; and
[R032.018.2934.V3; AG/LLRD/SL/134/2005/50 Vol. 2]