for Industry) (Amendment) Rules, 2014

L.N. 152 of 2014

INCOME TAX ACT

(CAP. 123)

Deductions and Tax Credits (Relevant Qualifications

for Industry) (Amendment) Rules, 2014

IN exercise of the powers conferred upon him by articles 14(2)

and 96 of the Income Tax Act, the Minister for Finance, in

consultation with the Malta Enterprise Corporation, has made the

following rules:-

The title of these rules is Deductions and Tax Credits Citation.

(Relevant Qualifications for Industry) (Amendment) Rules, 2014, and

these rules shall be read and construed as one with Deductions and S.L. 123.107

Tax Credits (Relevant Qualifications for Industry) Rules, hereinafter

referred to as "the principal rules".

Rule 3 of the principal rules shall be amended as follows

Amends rule 3

of the principal

rules.

(a)

in sub-rule (2) thereof, for the words "whichever is

the earlier." there shall be substituted the words "whichever is

the earlier:", and immediately thereafter there shall be added the

following new proviso

"Provided that the provision of this sub-rule shall

only be applicable for relevant courses commenced by the

31st December 2013.";

(b)

sub-rule (3) thereof shall be renumbered as sub-rule

(4); and

(c)

immediately after the new proviso to sub-rule (2)

thereof, there shall be added the following sub-rule

"(3) With effect from the 1st January 2014, the tax

credit referred to in this rule shall be an amount as may be

determined by the Corporation that shall not exceed the

study costs paid by the individual for the period

commencing on the date of the commencement of the

relevant course till the end of the relevant course.".

In paragraph (a) of rule 4 of the principal rules, the words Amends rule 4

"an itemised statement of the study costs incurred and" shall be of

rules.

Rule 5 of the principal rules shall be amended as follows

(a) in paragraph (c) of the proviso thereto, for the words

"31st December 2013" there shall be substituted the words "31st

December 2018"; and for the words "by means of a notice in the

Gazette." there shall be substituted the words "by means of a

notice in the Gazette:"; and

(b) immediately after paragraph (c) of the current

proviso there shall be added the following new proviso to the

whole rule

"Provided further that the provision of paragraph

(a) of the previous proviso shall only be applicable for

relevant courses commenced by not later than 31st

December 2013.".

€0.18