| Deduction for expenditure incurred to comply with statutory and regulatory requirements |
| Deduction for expenditure incurred to comply with statutory and regulatory requirements |
14X.—(1) For the purpose of ascertaining the income of any person for the basis period for the year of assessment 2014 or any subsequent year of assessment, the following expenditure, not being capital expenditure, incurred during the basis period by that person shall be allowed as a deduction for that year of assessment, if the Comptroller is satisfied that the expenditure is incurred for the purpose of the business that is carried on in the production of the income:
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