A 2
[Subsidiary]
G.N. 658/47.
G.N.A. 18/48. 36 of 1955. 49 of 1956. G.N.A. 26/60. L.N. 101/65. L.N. 129/65. L.N. 209/67. L.N. 140/71. L.N. 81/74. L.N. 121/79 L.N. 365/80.
L.N. 149/81. 7 of 1986.
CAP. 112]
Inland Revenue Rules
[1986 Ed.
INLAND REVENUE RULES
(Cap. 112, section 85)
[22 August 1947.]
Citation.
Rates of depreciation. L.N. 101/65.
L.N. 365/80.
1. These rules may be cited as the Inland Revenue Rules.
Rates of Depreciation
2. (1) For the purpose of the Ordinance, the expression "machinery or plant" shall include or be deemed to include the items specified in the second column of the First Part of the Table annexed to this rule but not the items specified in the second column of the Second Part of that Table which shall be deemed to be included in the expression "any implement, utensil and article" for the purposes of the Ordinance.
(2) The rates of depreciation specified in the third column of the First Part of the Table annexed to this rule are hereby prescribed for the purpose of ascertaining the annual allowance to be made under sections 37(2), 37A(2) and 39B(3) of the Ordinance.
(3) Wharves shall not be or be deemed to be included in the expression "plant or machinery" but where a balancing allowance or a balancing charge falls to be made to or on any person under section 35 of the Ordinance in respect of any wharf, the allowances, if any, granted in respect of such wharf under section 37 or 37A of the Ordinance for any year of assessment prior to the year of assessment commencing on 1 April 1965, shall be taken into account in calculating such balancing allowance or charge.
L.N. 149/81.
TABLE
FIRST PART
ItemDescriptionRate of Depreciation 1.Air-conditioning plant excluding room air-conditioning units...10% 2.Bank safe deposit boxes, doors and grills10% 3.Broadcasting transmitters10% 4.Cables (electric)10% 5.Lamp standards (street)-gas or electric10% 6.Lifts and escalators (electric)10% 7.Mains (gas or water)10% 8.Oil tanks10%