Fringe Benefits (Amendment) Rules, 2006

L.N. 76 of 2006

INCOME TAX ACT

(CAP. 123)

Fringe Benefits (Amendment) Rules, 2006

IN exercise of the powers conferred by articles 4(1)(b), 5(3)(c)

and 96 of the Income Tax Act, the Prime Minister and Minister of

Finance has made the following rules>–

(1) The title of these rules is the Fringe Benefits

(Amendment) Rules, 2006 and they shall be read and construed as one

with the Fringe Benefits Rules, 2001, hereinafter referred to as “the

principal rules”.

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

the 1 st January, 2006.

For paragraph (i) of the proviso to rule 26(2)(c) of the principal

rules, there shall be substituted the following>–

“(i) the benchmark rate of interest on a loan granted by a

bank set up or licensed under Maltese law or by a financial

institution authorised to lend money to the general public under

Maltese law to an employee of such bank or financial institution

shall be 0.25 of a percentage point higher than the central

intervention rate of the Central Bank of Malta as prevailing at the

end of the previous calendar year<”.

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