Part XIVAMENDMENTS TO CERTAIN ACTS TO PROVIDE FOR MERGER OF TRIBUNALS AND OTHER AUTHORITIES AND CONDITIONS OF SERVICE OF CHAIRPERSONS, MEMBERS, ETC. (From Section 156 to Section 189 )
Startup deduction period extended to seven years, lengthening the eligibility window for the special new business tax relief. The amendment substitutes the reference to five years with seven years in sub section (2) of the provision governing the special deduction for specified ... Summary
Startup deduction period extended to seven years, lengthening the eligibility window for the special new business tax relief.
The amendment substitutes the reference to five years with seven years in sub section (2) of the provision governing the special deduction for specified new businesses, thereby extending the statutory period during which eligible enterprises may claim the deduction; the change operates from the commencement date stated in the amendment.
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