S.L. 463.10 Art. 12Tax credits under Business Promotion Act and Investment Aid Regulations and the Investment Aid Regulations. Cap. 325. S.L. 463.02

(1) Where for a year of assessment, an undertaking qualifies for a tax credit under the Business Promotion Act and also under the provisions of these regulations, it shall avail itself of the tax credit due under the Business Promotion Act before any set-off is made in respect of the tax credit due under these regulations.

(2) Where for a year of assessment, an undertaking qualifies for a tax credit under the Investment Aid Regulations, and also under the provisions of these regulations, it shall avail itself of the tax credit due under the Investment Aid Regulations before any set-off is made in respect of the tax credit due under these regulations.