S.L. 123.84 Art. 13Reversal or re- calculation of tax credit.

(1) In the circumstances mentioned in rules 9(3) and 10(3)

the tax credit in question shall be reversed or recalculated, as the case may be.

(2) The reversal or recalculation of a tax credit shall give rise to an obligation of the company to pay an amount of tax, in addition to any other tax liability, equivalent to the amount represented by the reversal or recalculation, and such amount shall be deemed to be tax chargeable under the Act for the year of assessment immediately following that in which the cause for the reversal or recalculation takes place, and shall be reported and paid by the company in question accordingly.