S.L. 123.180 Art. 4Years of assessment for which the tax credit is  allowed.

(1) When the relevant qualification is an MQF 7

qualification, the tax credit shall be allowed against the tax on the income derived during the year immediately following the year in which the course or programme of studies in question was successfully completed.

(2) When the relevant qualification is an MQF 8 qualification, the tax credit shall be allowed against the tax on the income derived during the two years immediately following the year in which the course or programme of studies in question was successfully completed.

(3) Notwithstanding the provisions of sub-rule (2), when the relevant qualification is an MQF 8 qualification and the individual had previously obtained an MQF 7 qualification and availed himself of a tax credit in accordance with these rules in respect of that previous qualification, the tax credit in respect of the MQF 8 qualification shall be allowed to him only for the year of assessment commencing on the 1st January of the year immediately following that in which the course or programme of studies leading to the MQF 8 qualification was successfully completed.

(4) Except as provided in sub-rule (3), a tax credit under these rules shall be allowable only in respect of one relevant qualification.