The amount of the tax credit to which a QFC Entity is entitled in respect of a Reimbursable Tax Loss for a Reimbursable Accounting Period under Part 16 (Credit for Tax Losses) of the Tax Regulations is—
(A) 8% of the amount of the Reimbursable Tax Loss for the Reimbursable Accounting Period or such other amount as may be set by the Director of Tax from time to time and is published by the Tax Department by way of a public notice ; or
(B) QR 200,000,
whichever is lower.
|Inserted (as from 18th June 2014)|