Donations (Sports and Culture) (Amendment) Rules, 2016

L.N. 147 of 2016

INCOME TAX ACT

(CAP. 123)

Donations (Sports and Culture) (Amendment) Rules, 2016

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

of the Income Tax Act, the Minister for Finance has made the

following rules:-

(1) The title of these rules is the Donations (Sports and

Culture) (Amendment) Rules, 2016, and these rules shall be read and

construed as one with the Donations (Sports and Culture) Rules,

hereinafter referred to as "the principal rules".

(2) These rules shall apply in respect of donations made as

from the 1st January 2016.

Rule 4 of the principal rule shall be amended as follows

(a)

in sub-rule (1) thereof, for the words "such donation

may be claimed as a deduction" there shall be substituted the

words "an amount equivalent to 150% of such donation may be

claimed as a deduction"; and

(b) in sub-rule (2) thereof, for the words "the expense

actually incurred" shall be substituted by the words "the amount

calculated as aforesaid".

€0.09