Section 18

(1)

Where a company is engaged in any qualifying activity, the company may apply in the prescribed form to the Minister for approval as a pioneer service company.

(2)

The Minister may, if he considers it expedient in the public interest to do so, approve the application and issue the company with a certificate subject to such terms and conditions as he thinks fit.

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{3)

Every certificate issued under this section shall specify a date as the commencement day from which the company shall be entitled to tax relief under this Part.

(4)

The Minister may in his discretion, upon the application of the company, amend its certificate by substituting for the commencement day specified therein such earlier or later date as he thinks fi.t and thereupon the provisions of this Part shall have effect as if the date so substituted were the commencement day in relation to that certificate.

Tax relief period of pioneer service company.

Terms defined in this Act

commencement day
Defined · s 17
"commencement day", in relation to a pioneer service company, means the date specified under subsection (3) or (4) of section 18 in the certificate issued to that company under that section;
Open s 17
company
Defined · s 3
"company" means any company incorporated or registered in accordance with the provisions of any written law relating to companies; 1307 26th.
Open s 3
Minister
Defined · s 3
"Minister" means the Minister charged with the responsibility for industrial development;
Open s 3
pioneer service company
Defined · s 17
"pioneer service company" means a company which has been issued with a certificate under section 18;
Open s 17
qualifying activity
Defined · s 17
"qualifying activity" means any of the following- {a} any engineering or technical services including laboratory, consultancy and research and development activities; {b) computer-based information and other computer related services; {c) the development or production of any industrial design; {d) services and activities which relate to the provision of leisure and recreation; {e) publishing services; {fJ services which relate to the provision of education; {g) medical services; {h) services and activities which relate to agricultural technology; {i} services and activities which relate to the provision of warehousing facilities; {j} services which relate to the organisation or management of exhibitions and conferences; {k} financial services; {l} business consultancy, management and professional services; {m} venture capital fund activity; {n} operation or management of any mass rapid transit system; {o} services provided by an auction house; {p} maintaining and operating a private museum; and {q} such other services or activities as the Minister may prescribe. Application for and issue and amendment of certificate for pioneer service company.
Open s 17
tax
Defined · s 3
"tax" means income tax imposed by the Income Tax Act;
Open s 3

Report

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Part IV

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Part VI

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Part VII

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Part VIII

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Part IX

International Trade Incentives

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Part X

Foreign Loans for Productive Equipment

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Part XI

Investment Allowances

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Part XII

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Part XIII

Investments in New Technology Companies

Read on from Part XIII

Part XIV

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Part XV

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