CHAPTER 75:01 - Inland Revenue Division

Income Tax Act Mac 1
Vol. 1
83 57A. (1) An exporter who has paid consolidated special levy and is eligible
for a tax credit under section 24(7) of the Finance Act, 1988, may claim in
his return of income the tax credit computed in accordance with section
24(9) and (10) of that Act. Tax credits
Act No.11 of 1988
(2) If it is proved to the satisfaction of the Board that the amount of the tax
credit claimed is properly due to the claimant in respect of the goods
exported during the period for which the return relates, the Board may set
off the amount of the tax credit against the tax payable for the year of
income for which the return is furnished.
(3) Where, in setting off the amount of the tax credit against the tax
payable for any year of income, the amount of the tax credit exceeds the
tax payable, the excess shall, subject to sections 90 and 92, be refunded.
58. (1) Where, before 27th September 1966 (that is, the date of passing of the
Finance Act 1966) any company acting under the former provisions of this
Act has deducted from the amount of any dividend paid to any shareholder
tax at the rate payable by the company on the income out of which the
dividend was paid, and that dividend is included in the chargeable income
of such shareholder for the year of income 1966, the net amount received
in respect of the dividend shall, for all purposes of this Act, be deemed to
be the gross amount of the dividend notwithstanding that such dividend,
by virtue of the former provisions of this Act, is deemed to represent
income of such an amount as would, after deduction of tax, be equal to the
net amount received.
Transitional provisions in respect of deduction of tax from dividends
(2) In this section, the expression "former provisions of this Act" means
sections 23, 23A and 23B of the Income Tax Ordinance which were
repealed by section 20 of the Finance Act 1966.
Ch.33:01
Act No.29 of 1966
TRUSTEES, AGENTS, ETC.
59. (1) Subject to subsection (2), a receiver, trustee, guardian, curator or
committee having the direction, control or management of any property or
concern on behalf of any person, shall be chargeable to tax in respect of
income derived from such property or concern in like manner and to the
like amount as such person would be chargeable if he had received such
income, and every such receiver, trustee, guardian, curator or committee
shall be answerable for doing all matters and things required to be done
under this Act for the purpose of assessment and payment of tax. Chargeability of trustees, etc.
83 BIR Note: Effective 1st January 1988.
BIR Mac Edition 91/01 Page 87