Deductions and Tax Credits (Research and Development)

L.N. 159 of 2006

INCOME TAX ACT

(CAP. 123)

Deductions and Tax Credits (Research and Development)

(Amendment) Rules, 2006

IN exercise of the powers conferred by articles 14(2) and 96 of the

Income Tax Act, hereinafter referred to as “the Act”, the Prime Minister

and Minister of Finance has made the following rules>-

(1) The title of these rules is the Deductions and Tax Credits

(Research and Development)(Amendment) Rules, 2006 and they shall

be read and construed as one with the Deductions and Tax Credits

(Research and Development) Rules, 2005, hereinafter in these rules

referred to as “the principal rules”.

(2) These rules shall be deemed to have come into force on

the 11th October, 2005.

Rule 4 of the principal rules shall be amended as follows>

(a) in sub-rule (2) thereof, immediately after the words

“qualifying R&D expenditure incurred” there shall be inserted the

words “by a company”<

(b) in sub-rule (3) thereof, immediately after the words

“expenditure incurred” there shall be inserted the words “by a

company”.

Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press