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Income Tax Management Act (Cap. 372) Income Tax (Statutory Dates) (Amendment), 2008 (L.N. 78 Of 2008 )

INCOME TAX MANAGEMENT ACT (CAP. 372)
Income Tax (Statutory Dates) (Amendment) Rules, 2008
IN exercise of the powers vested in him by articles 42 and 58 of the Income Tax Management Act, the Prime Minister and Minister of Finance has made the following rules>–
1. (1) The title of these rules is the Income Tax (Statutory Dates) (Amendment) Rules, 2008 and they shall be read and construed as one with the Income Tax (Statutory Dates) Regulations 1999, hereinafter called “the principal rules”.
(2) The Income Tax (Statutory Dates) Regulations, 1999 shall henceforth be styled as the The Income Tax (Statutory Dates) Rules, 1999.
(3) These rules shall be deemed to have come into force as from the year of assessment 2008 and shall be applicable to that year of assessment and subsequent years of assessment.
2. Rule 5(b) of the principal rules shall be amended as follows> (a) for the words “under regulation 2” there shall be
substituted the words “under rule 2>”< and
(b) the following proviso shall be added thereto>
“Provided that, with respect to the tax for year of assessment 2008 and subsequent years of assessment, where a determination in terms of article 47 of the Duty on Documents and Transfers Act has been made as a consequence of the company satisfying subarticle (3)(e) of the said article, and until such time that the said determination remains valid, the tax payable by such a company on its chargeable income shall become due and payable as follows>
(a) where such income is distributed by the company on or before the tax return date of the said company, on the tax return date<
(b) where such income is distributed by the company after the tax return date but before the date
B 1249

Citation and commencement.

L.N. 127 of 1999

.

Amends rule 5 of the principal rules.

B 1250
referred to in paragraph (c) below, the earlier of the fourteenth day following the end of the month in which such a distribution was made and the date referred to in paragraph (c) below<
(c) in other cases, the last date of the period referred to in article 182(3) of the Companies Act which period shall for the purposes of these rules be deemed to commence from the end of the accounting period as determined in accordance with article 11 of the Income Tax Act as is applicable to the said company.”.

Ippubblikat mid-Dipartiment ta’ l-Informazzjoni (doi.gov.mt) — Valletta — Published by the Department of Information (doi.gov.mt) — Valletta

Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press

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