Article 95 - Reimbursable Tax Losses
(1) A Reimbursable Tax Loss is a tax loss calculated in accordance with Article 27 and as adjusted by this Article.
(2) In computing a Reimbursable Tax Loss of a QFC Entity , no deduction shall be available in respect of—
a) expenses which are not shown to the satisfaction of the Tax Department to have been incurred in the State ;
(b) depreciation of tangible fixed assets;
(c) amortisation of intangible fixed assets;
(d) interest incurred on indebtedness; and
(e) any Distribution .
| Inserted (as from 18th June 2014) |