Inland Revenue.
(2) Where for any year of assessment a person is assessed to profits tax under the provisions of subsection (5) of section 18, the Commissioner may in addition to the relief due under subsection (1) of this section grant such further relief as he may decide to be reasonable.
(3) The aggregate relief granted under this section in respect of any sum deducted by way of interest tax shall in no circumstances exceed the amount of such deduction. [32]
[CAP. 112
deduction.
32. Any person who has been deemed to have made a Recovery of deduction from interest payable to another person under the provisions of section 29, may retain out of any assets of such other person coming into his possession or control, so much thereof as shall be sufficient to produce the amount of such deduction, and he shall be and is hereby indemnified against any person whomsoever in respect of his retention of such assets; and where no assets of such other persons come into his possession or control out of which he could retain the amount deducted, the amount of such deduction shall be a debt due to him from such other person.
[33]
33. Where, in the opinion of the Commissioner, the provisions of section 29 relating to the deduction of interest tax have failed or are likely to fail to secure payment of any sum being tax upon interest charged by section 28, it shall be lawful for him to recover any such sum by way of direct assessment upon the recipient of such interest or upon his [34] agent.
Recovery of assessment.
tax by direct
PART VI. Depreciation, etc.
Initial and
annual
industrial
buildings and
structures.
30 of 1950,
34. (1) Where a person incurs capital expenditure on the construction of a building or structure which is to be an allowances, industrial building or structure occupied for the purposes of a trade there shall be made to the person who incurred the expenditure for the year of assessment in the basis period for Schedule, which the expenditure was incurred an allowance to be known as an "initial allowance" equal to one-tenth thereof.
(2) (a) Where any person is, at the end of the basis period for any year of assessment, entitled to an interest in a building or structure which is an industrial building or structure and where that
317
Page 25
Page 26
Inland Revenue.
(2) Where for any year of assessment a person is assessed to profits tax under the provisions of subsection (5) of section 18, the Commissioner may in addition to the relief due under subsection (1) of this section grant such further relief as he may decide to be reasonable.
(3) The aggregate relief granted under this section in respect of any sum deducted by way of interest tax shall in no circumstances exceed the amount of such deduction. [32]
[CAP. 112
deduction.
32. Any person who has been deemed to have made a Recovery of deduction from interest payable to another person under the provisions of section 29, may retain out of any assets of such other person coming into his possession or control, so much thereof as shall be sufficient to produce the amount of such deduction, and he shall be and is hereby indemnified against any person whomsoever in respect of his retention of such assets; and where no assets of such other persons come into his possesion or control out of which he could retain the amount deducted, the amount of such deduction shall be a debt due to him from such other person.
[33]
33. Where, in the opinion of the Commissioner, the provisions of section 29 relating to the deduction of interest tax have failed or are likely to fail to secure payment of any sum being tax upon interest charged by section 28, it shall be lawful for him to recover any such sum by way of direct assessment upon the recipient of such interest or upon his [34] agent.
Recovery of assessment.
tax by direct
PART VI. Depreciation, etc.
Initial and
annual
industrial
buildings and
structures.
30 of 1950,
34. (1) Where a person incurs capital expenditure on the construction of a building or structure which is to be an allowances, industrial building or structure occupied for the purposes of a trade there shall be made to the person who incurred the expenditure for the year of assessment in the basis period for Schedule. which the expenditure was incurred an allowance to be known as an "initial allowance" equal to one-tenth thereof.
(2) (a) Where any person is, at the end of the basis period for any year of assessment, entitled to an interest in a building or structure which is an industrial building or structure and where that
317
Page 25Page 26
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