Investment Incentives Order, 2001 · As enacted · Part IV
22. ! 1)
Official textFrom Attorney General's Chambers, unchanged
Any company which is -
company
"company" means any company incorporated or registered in accordance with the provisions of any written law relating to companies; 1307 26th.
fa} a pioneer company on or after 1st. May, 1975;
pioneer company
"pioneer company" means a company certified by a pioneer certificate to be a pioneer company under the repealed Act;
a pioneer enterprise or a pioneer service company;
pioneer enterprise
"pioneer enterprise" means any company which has been approved by the Minister and to which a pioneer certificate has been issued under section 5;
an export enterprise which had been a pioneer enterprise immediately before its tax relief period as an export enterprise, may apply in the prescribed form to the Minister for approval as a post-pioneer company.
export enterprise
"export enterprise" means any company which has been approved by the Minister and to which an export certificate has been issued under section 40;
!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 may impose.
Minister
"Minister" means the Minister charged with the responsibility for industrial development;
!3)
Every certificate issued to a post-pioneer company under this section shall specify -
post-pioneer company
"post-pioneer company" means a company which has been issued with a certificate under subsection !2) of section 22;
fa} a date as the commencement day from which the company shall be entitled to tax relief under this Part;
commencement day
"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;
its qualifying activities; and
the concessionary rate. of tax to be levied for the purposes of this
Part.
The Minister may, in his discretion, upon an application of a post-pioneer company, amend its certificate by substituting for the commencement day specified therein such other date as he thinks fit and thereupon the provisions of this Part shall have effect as if that date were the commencement day in relation to that certificate.
1318
Notwithstanding section 35 of the Income Tax Act, tax at such concessionary rate, not being less than 10% as the Minister may specify, shall be levied and paid for each year of assessment upon the income derived by a post-pioneer company during its tax relief period from its qualifying activities.
Tax relief period of post-pioneer 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;
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.
export enterprise
Defined · s 3"export enterprise" means any company which has been approved by the Minister and to which an export certificate has been issued under section 40;
Minister
Defined · s 3"Minister" means the Minister charged with the responsibility for industrial development;
pioneer company
Defined · s 21"pioneer company" means a company certified by a pioneer certificate to be a pioneer company under the repealed Act;
pioneer enterprise
Defined · s 3"pioneer enterprise" means any company which has been approved by the Minister and to which a pioneer certificate has been issued under section 5;
pioneer service company
Defined · s 17"pioneer service company" means a company which has been issued with a certificate under section 18;
post-pioneer company
Defined · s 21"post-pioneer company" means a company which has been issued with a certificate under subsection !2) of section 22;
Part VI
Part VII
Part VIII
Part IX
International Trade Incentives
Part X
Foreign Loans for Productive Equipment
Part XI
Investment Allowances
Part XII
Part XIII