Highly Qualified Persons (Amendment) Rules, 2017

L.N. 7 of 2017

INCOME TAX ACT

(CAP. 123)

Highly Qualified Persons (Amendment) Rules, 2017

IN exercise of the powers conferred by articles 56(21) and 96 of

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

rules:-

(1) The title of these rules is the Highly Qualified

Persons (Amendment) Rules, 2017 and these rules shall be read and

construed as one with the Highly Qualified Persons 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 2017.

In sub-rule (5) of rule 6 of the principal rules shall be

amended as follows

(a)

for the words "any person who has availed himself

of the benefit provided by these rules and falls under the

provisions of sub-rule (1) hereof" there shall be substituted the

words "any person who falls under the provisions of sub-rule (1)

hereof, irrespective of whether he has availed himself of the

benefit provided by these rules or not,"; and

(b) for the words "ten years of assessment." there shall

be substituted the words "a consecutive period of ten years

commencing from the year preceding the first year of

assessment in which that person is first liable to tax under the

provisions of the Act.".

€0.09