The Income Tax (Deduction for Investment in a BioNexus Status Company) (Amendment) Rules 2024 [P.U. (A) 23/2023] are deemed to have come into operation on 1 January 2023.
The changes made to the specific provisions in the amendment rules involve updating the commencement and termination dates for the deduction for investment in a BioNexus status company.
The amendments include:
- Substituting the previous commencement date of “1 January 2021” with a new commencement date of “1 January 2023”.
- Substituting the previous termination date of “31 December 2022” with a new termination date of “31 December 2024”.
References:
Income Tax (Deduction for Investment in a BioNexus Status Company) (Amendment) Rules 2024
303.1-P.U.-A-23_2024-Income-Tax-Deduction-for-Investment-in-a-BioNexus-Status-Company-Amendment-Rules-2024Download
Income Tax (Deduction for Investment in a BioNexus Status Company) Rules 2016 [P.U. (A) 306/2016]
