S.L. 123.87 Art. 17Reversal of tax credit.

If a company avails itself of a tax credit under Part II or III

in respect of expenditure that is subsequently deemed to have never constituted allowable expenditure for the purpose of the said Parts in the circumstances mentioned therein, an amount equal to that credit shall be deemed to be tax due by the company, in addition to any other tax liability, for the year of assessment that immediately follows the year in which those circumstances subsist, and the provisions of the Act shall apply accordingly. Part V Tax credit for individuals