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Contents

Long Title

Part I PRELIMINARY

Part II ADMINISTRATION

Part III IMPOSITION OF INCOME TAX

Part IV EXEMPTION FROM INCOME TAX

Part V DEDUCTIONS AGAINST INCOME

Part VI CAPITAL ALLOWANCES

Part VII ASCERTAINMENT OF CERTAIN INCOME

Part VIII ASCERTAINMENT OF STATUTORY INCOME

Part IX ASCERTAINMENT OF ASSESSABLE INCOME

Part X ASCERTAINMENT OF CHARGEABLE INCOME AND PERSONAL RELIEFS

Part XI RATES OF TAX

Part XII DEDUCTION OF TAX AT SOURCE

Part XIII ALLOWANCES FOR TAX CHARGED

Part XIV RELIEF AGAINST DOUBLE TAXATION

Part XV PERSONS CHARGEABLE

Husband and wife

Trustees, agents and curators

Part XVI RETURNS

Part XVII ASSESSMENTS AND OBJECTIONS

Part XVIII APPEALS

Part XIX COLLECTION, RECOVERY AND REPAYMENT OF TAX

Part XX OFFENCES AND PENALTIES

Part XXA Exchange of information under avoidance of double taxation arrangements and exchange of information arrangements

Part XXB COURT ORDERS RELATING TO RESTRICTED INFORMATION

Part XXI MISCELLANEOUS

FIRST SCHEDULE Institution, Authority, Person or Fund Exempted

SECOND SCHEDULE Rates of Tax

THIRD SCHEDULE Repealed

FOURTH SCHEDULE Name of Bond, Securities, Stock or Fund

FIFTH SCHEDULE Child Relief

SIXTH SCHEDULE Number of Years of Working Life of Asset

SEVENTH SCHEDULE Advance Rulings

EIGHTH SCHEDULE Information to be Included in A Request for Information under Part Xxa

Legislative History

Comparative Table

Comparative Table

 
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Related Subsidiary Legislation | Legislative History | Amendment Annotation off
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On 21/05/2013, you requested for the version in force on 21/05/2013 incorporating all amendments published on or before 21/05/2013. The closest version currently available is that of 18/04/2013.
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Deduction for special reserve of approved general insurer
14O.
—(1)  The Minister may by regulations provide that, for the purpose of ascertaining the income of a general insurer approved by the Minister or such person as he may appoint from carrying on the business of insuring and reinsuring offshore risks, there shall be allowed for a period of 10 years a deduction for the prescribed amount of special reserves set aside by the approved general insurer for prescribed offshore risks.
[37/2002; 34/2005]
(2)  Regulations made under subsection (1) may provide for —
(a)
any amount transferred to the special reserve on an earlier date to be deemed to have been transferred out of the special reserve first;
(b)
the circumstances in which any amount which has been allowed as deduction under this section may be deemed as trading receipt for any basis period;
(c)
the adjustment of any amount deemed as trading receipt for any basis period in respect of any amount which has been allowed as deduction under this section; and
(d)
generally for giving full effect to or for carrying out the purposes of this section.
[37/2002]
(3)  In this section —
“insurer” has the same meaning as in section 43C;
“offshore risk” has the same meaning as in section 26.
[34/2005]