CHAPTER 75:01 - Inland Revenue Division

Corporation Tax Act Mac 1
Vol. 1
carrying not less than 51 per cent of the voting power on the last
day of the year or years in which the loss was incurred; or
(b) the Board is satisfied that the change in share-holding was not
effected with a view to avoiding or reducing any liability to tax.
(8) Subject to subsection (9), where in a year of income a company claims a
deduction for wear and tear under section 11(1) (b) of the Income Tax Act,
the deduction shall not be allowed unless the company satisfies the Board
that the taxes payable in that year of income under the Lands and
Buildings Taxes Act and the Municipal Corporations Act have been paid
for the year of income to which the claim relates. Finance Act 1994
Finance Act 1995
Finance Act 35 of 1998*
122 (9) Deleted. Finance Act 1995
Finance Act 35 of 1998*
123 8. (1) Repealed Export allowance
Act No.14 of 1976
Finance Act 1997
Finance Act 2002**
(2) Repealed Finance Act 1997
Finance Act 2002**
(3) Repealed Finance Act 1997
Finance Act 2002**
(4) Repealed Finance Act 2002**
(5) Repealed Finance Act 9/97
Finance Act 2002**
9. (1) Repealed Saving of right of company entitled to an export allowance
Finance Act 2002**
(2) Repealed Act No.14 of 1976
Finance Act 2002**
(3) Repealed Finance Act 2002**
10. (1) In computing for purposes of corporation tax a "company's profits" for
any year of income there shall be made in accordance with this section all
122 BIR Note: Effective 29 th March, 1995
123 BIR Note: Effective 1 st January 1974
* Effective 1 st January 1994
** Effective 1 st January 2003
BIR Mac Edition 91/01 Page 197