Article 100 – Restriction to Elect for Special Exempt Status or for the Concessionary

(1) If a QFC Entity has received payment of a tax credit in respect of a Reimbursable Tax Loss under this Part, in the three subsequent Accounting Periods following the Reimbursable Accounting Period in respect of which the Reimbursable Tax Loss was claimed it shall not be entitled to:
(a) elect for special exempt status; or
(b) elect for its Chargeable Profits to be charged to tax at the Concessionary Rate.
Inserted (as from 18th June 2014)