for Industry) (Amendment) Rules, 2016

L.N. 195 of 2016

INCOME TAX ACT

(CAP. 123)

Deductions and Tax Credits (Relevant Qualifications

for Industry) (Amendment) Rules, 2016

IN exercise of the powers conferred 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:-

(1) The title of these regulations is the Deductions and Citation. and

Tax Credits (Relevant Qualifications for Industry) (Amendment) commencement

Rules, 2016, and these rules shall be read and construed as one with

the Deductions and Tax Credits (Relevant Qualifications for Industry) S.L.123.107

Rules, hereinafter referred to as "the principal rules".

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

1st January, 2016.

Rule 5 of the principal rules shall be amended as follows

Amends rule 5

of the principal

rules.

(a)

the first proviso thereof shall be amended as

follows

(i) in paragraph (b) thereof, for the words "was

commenced more than twelve months before the date of

the application; or" there shall be substituted the words

"was commenced more than twelve months before the date

of the application and where such application reached the

Corporation by the 31st December, 2015; or" and

(ii) in paragraph (c) thereof, for the words

"commences after the 31st December, 2018" there shall be

substituted the words "commences after the 31st

December, 2020";

(b) in the second proviso thereof, for the words

"Provided further" there shall be substituted the words

"Provided also"; for the words "for relevant courses commenced

by not later than 31st December 2013." there shall be

substituted the words "for relevant courses commenced by not

later than 31st December 2013:"; and immediately thereafter

there shall be added the following new proviso

"Provided further that with effect from the 1st

January 2016, the Corporation shall not issue the letter of

approval in respect of an application that reaches the

Corporation after one (1) year from the commencement of

the relevant course or after the last day of the calendar year

in which the relevant qualification is obtained.".

€0.18