Exemption on Royalties Derived from Patents

L.N. 4 of 2016

INCOME TAX ACT

(CAP. 123)

Exemption on Royalties Derived from Patents

(Amendment) Rules, 2016

IN exercise of the powers conferred by articles 12(1)(v) and 96

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

following rules:-

The title of these Rules is the Exemption on Royalties

Derived from Patents (Amendment) Rules, 2016, and these rules shall

be read and construed as one with the Exemption on Royalties

Derived from Patents Rules, hereinafter referred to as "the principal

rules".

Immediately after rule 5 of the principal rules, there shall

be added the following new rule

" Time limit of

No determination by the competent

benefit.

authority in accordance with rule 5 shall be

issued after the 30th June 2016, and no benefits

under these rules may be availed of after the

30th June 2021."

€0.09