Income Tax (Statutory Dates) (Amendment) Rules, 2008

L.N. 78 of 2008

INCOME TAX MANAGEMENT ACT

(CAP. 372)

Income Tax (Statutory Dates) (Amendment) Rules, 2008

IN exercise of the powers vested in him by articles 42 and 58 of

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

Finance has made the following rules>–

(1) The title of these rules is the Income Tax (Statutory Dates) Citation and

commencement.

(Amendment) Rules, 2008 and they shall be read and construed as one

with the Income Tax (Statutory Dates) Regulations 1999, hereinafter L.N. 127 of 1999.

called “the principal rules”.

(2) The Income Tax (Statutory Dates) Regulations, 1999

shall henceforth be styled as the The Income Tax (Statutory Dates)

Rules, 1999.

(3) These rules shall be deemed to have come into force as

from the year of assessment 2008 and shall be applicable to that year of

assessment and subsequent years of assessment.

Rule 5(b) of the principal rules shall be amended as follows> Amends rule 5

of the principal

rules.

(a) for the words “under regulation 2” there shall be

substituted the words “under rule 2>”< and

(b) the following proviso shall be added thereto>

“Provided that, with respect to the tax for year of

assessment 2008 and subsequent years of assessment, where

a determination in terms of article 47 of the Duty on

Documents and Transfers Act has been made as a consequence

of the company satisfying subarticle (3)(e) of the said article,

and until such time that the said determination remains valid,

the tax payable by such a company on its chargeable income

shall become due and payable as follows>

(a) where such income is distributed by the

company on or before the tax return date of the said

company, on the tax return date<

(b) where such income is distributed by the

company after the tax return date but before the date

referred to in paragraph (c) below, the earlier of the

fourteenth day following the end of the month in which

such a distribution was made and the date referred to in

paragraph (c) below<

(c) in other cases, the last date of the period

referred to in article 182(3) of the Companies Act which

period shall for the purposes of these rules be deemed to

commence from the end of the accounting period as

determined in accordance with article 11 of the Income

Tax Act as is applicable to the said company.”.

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

€0.19 (Lm0.08)