Investment Incentives Act · s 21

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s 21Exemption from income tax

(1)

Where a statement issued under section 20 has become final and conclusive under section 65 of the Income Tax

Act, the amount shown in the statement shall be exempt from tax under the Income Tax Act.

(2)

Before a statement issued under section 20 has become final and conclusive, the Collector may, if he thinks fit, declare that the whole or a specified part of the amount shown in the statement is not in dispute; and where he does so, so much of

Cap. 35.

Investment Incentives 27

that amount as is affected by the declaration shall be exempt from tax under the Income Tax Act.