Economic Expansion Incentives (Relief from Income Tax) Act(CHAPTER 86)
Table of Contents
Long Title
Part I PRELIMINARY
1 Short title
2 Act to be construed as one with Income Tax Act
3 Interpretation
Part II PIONEER INDUSTRIES
4 Power to approve an industry and a product as a pioneer industry and a pioneer product
5 Application for and issue and amendment of pioneer certificate
6 Tax relief period of pioneer enterprise
7 Provisions governing old and new trade or business
8 Restrictions on trading before end of tax relief period
9 Power to give directions
10 Ascertainment of income in respect of old trade or business
11 Application of Part XVI of Income Tax Act
12 Comptroller to issue statement of income
13 Exemption from income tax
14 Certain dividends exempted from income tax
15 Carry forward of loss and allowance
Part III PIONEER SERVICE COMPANIES
16 Interpretation of this Part
17 Application for and issue and amendment of certificate for pioneer service company
18 Tax relief period of pioneer service company
19 Application of sections 7 to 15 to pioneer service company
Part IIIA (Repealed)
19A (Repealed)
19B (Repealed)
19C (Repealed)
19D (Repealed)
19E (Repealed)
19F (Repealed)
19G (Repealed)
19H (Repealed)
Part IIIB DEVELOPMENT AND EXPANSION INCENTIVE
19I Interpretation of this Part
19J Application for and issue of certificate to development and expansion company
19K Tax relief period of development and expansion company
19KA International legal services
19L Certain dividends exempted from income tax
19M Ascertainment of income from qualifying activities
19N Ascertainment of income from other trade or business
19O Deduction of losses
19P Power to give directions
Part IV (Repealed)
20 (Repealed)
21 (Repealed)
22 (Repealed)
23 (Repealed)
24 (Repealed)
25 (Repealed)
Part V (Repealed)
26 (Repealed)
27 (Repealed)
28 (Repealed)
Part VI (Repealed)
29 (Repealed)
30 (Repealed)
31 (Repealed)
32 (Repealed)
33 (Repealed)
34 (Repealed)
35 (Repealed)
36 (Repealed)
37 (Repealed)
38 (Repealed)
39 (Repealed)
40 (Repealed)
41 (Repealed)
42 (Repealed)
43 (Repealed)
44 (Repealed)
Part VIA (Repealed)
44A (Repealed)
44B (Repealed)
44C (Repealed)
44D (Repealed)
44E (Repealed)
44F (Repealed)
44G (Repealed)
44H (Repealed)
44I (Repealed)
Part VII (Repealed)
45 (Repealed)
46 (Repealed)
47 (Repealed)
48 (Repealed)
49 (Repealed)
50 (Repealed)
51 (Repealed)
52 (Repealed)
53 (Repealed)
54 (Repealed)
55 (Repealed)
56 (Repealed)
Part VIII FOREIGN LOANS FOR PRODUCTIVE EQUIPMENT
57 Application for and issue of approved foreign loan certificate
58 Restriction on disposal of specified productive equipment
59 Exemption of approved foreign loan interest from tax
60 Exemption of additional interest on approved foreign loan from tax
Part IX ROYALTIES, FEES AND DEVELOPMENT CONTRIBUTIONS
61 Application for and issue of approved royalties, fees or contributions certificate
62 Notice of variation of terms of agreement or arrangement
63 (Repealed)
64 Reduction of tax for approved royalties, fees or contributions
65 Exemption from tax where investment made in approved enterprise
Part X INVESTMENT ALLOWANCES
66 Interpretation of this Part
67 Capital expenditure investment allowance
68 Investment allowance
69 Crediting of investment allowance
70 Prohibition to sell, lease out or dispose of assets
71 Exemption from income tax
72 Certain dividends exempted from income tax
73 Recovery of tax exempted
74 Application of Parts XVII and XVIII of Income Tax Act
74A No investment allowance for certain expenditure
Part XI (Repealed)
75 (Repealed)
76 (Repealed)
77 (Repealed)
78 (Repealed)
79 (Repealed)
80 (Repealed)
81 (Repealed)
82 (Repealed)
83 (Repealed)
84 (Repealed)
Part XII (Repealed)
85 (Repealed)
86 (Repealed)
87 (Repealed)
88 (Repealed)
89 (Repealed)
90 (Repealed)
91 (Repealed)
92 (Repealed)
Part XIII (Repealed)
93 (Repealed)
94 (Repealed)
95 (Repealed)
96 (Repealed)
97 (Repealed)
Part XIIIA (Repealed)
97A (Repealed)
97B (Repealed)
97C (Repealed)
97D (Repealed)
97E (Repealed)
97F (Repealed)
97G (Repealed)
Part XIIIB OVERSEAS ENTERPRISE INCENTIVE
97H Interpretation of this Part
97I Application for and issue of certificate to overseas enterprise
97J Tax relief period of overseas enterprise
97K Separate accounts for qualifying activity
97L Power to give directions
97M Qualifying income
97N Application of Part XVI of Income Tax Act
97O Statement of qualifying income
97P Exemption from income tax
97Q Certain dividends exempted from income tax
97R Certification of income by auditor
Part XIIIC ENTERPRISE INVESTMENT INCENTIVE
97S Interpretation of this Part
97T Application for and issue of certificate to start-up company
97U Allotment of qualifying shares by company
97V Deduction of losses allowable to eligible investor
97W Power of Comptroller to give directions
97X Prohibition of other activity
97Y Recovery of tax
97Z Savings provision
Part XIIID INTEGRATED INVESTIMENT ALLOWANCE
97ZA Interpretation of this Part
97ZB Application for approval of project
97ZC Grant of IIA
97ZD Crediting of IIA
97ZE Exemption from income tax: general
97ZF Exemption from income tax where company derives normal income or mixed income before a date, and concessionary income from that date
97ZG Exemption from income tax where company derives concessionary income or mixed income before a date, and normal income from that date
97ZH Prohibition against selling, leasing out or disposing of qualifying equipment
97ZI Recovery of tax
97ZJ Application of Parts XVII and XVIII of Income Tax Act
Part XIIIF (Repealed)
97ZK (Repealed)
97ZL (Repealed)
97ZM (Repealed)
97ZN (Repealed)
97ZO (Repealed)
Part XIV MISCELLANEOUS PROVISIONS
98 Prohibition of publication of application and certificate or letter
99 Revocation of certificate or letter
100 Provisions of Income Tax Act not affected
101 Action of officers no offence
102 Regulations
103 Savings provision
104 Consequential provision arising from abolition of imputation system
Legislative History
Comparative Table