Investment Incentives Act · s 27

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s 27Tax relief period

(1)

The tax relief period of an expanding enterprise shall begin on the first day of the accounting period commencing on or after its expansion day or, at its option, on the first day of the accounting period in which the expansion day falls and shall —

(a)

where such expanding enterprise has incurred new capital expenditure not exceeding $250,000, continue for a period of 3 years;

Investment Incentives 32

(b)

where such expanding enterprise has incurred new capital expenditure exceeding $250,000, continue for a period of 5 years.

(2)

Notwithstanding subsection (1) of this section, where the tax relief period of an expanding enterprise is 3 years and the Board is satisfied that is has incurred by the end of that period new capital expenditure of not less than $250,000, it may extend the tax relief period to 5 years.