S.L. 123.206 Art. 4Claim for the tax credit.

(1) The tax credit that the company may claim for a year of assessment in accordance with these rules shall not exceed the tax on its chargeable income for that year after taking into account any other tax credit, tax exemption and any other form of tax relief that may be allowed to the company for that year.

(2) Subject to the limitation provided for in sub-rule (1), the company may claim the tax credit allowable in accordance with these rules for the year of assessment 2023.

(3) Any balance of the tax credit that is not availed of in the year of assessment 2023 on account of the limitation provided for in sub-rule (1) shall be carried forward and made available as a tax credit for subsequent years of assessment, subject to the same limitation, until it is fully availed of.