Deduction for Wear and Tear of Plant and Machinery

L.N. 291 of 2010

INCOME TAX ACT

(CAP. 123)

Deduction for Wear and Tear of Plant and Machinery

(Amendment) Rules, 2010

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

the Income Tax Act, the Minister of Finance, the Economy and

Investment has made the following rules:–

(1)

The title of these rules is the Deduction for Wear

and Tear of Plant and Machinery (Amendment) Rules, 2010 and they

shall be read and construed as one with the Deduction for Wear and

Tear of Plant and Machinery Rules, hereinafter referred to as "the

principal rules".

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

from the year of assessment 2010.

In the Schedule to the principal rules, for the words

"7. Aircraft ....12" there shall be substituted the following

Category.............................................................Years

"7. (a) Aircraft airframe......................................6

(b) Aircraft engines.......................................6

(c) Aircraft engine or airframe overhaul.......6

(d) Aircraft interiors and other parts.............4".

€0.09