COMPUTATION OF INITIAL & ANNUAL ALLOWANCES IN RESPECT OF PLANT & MACHINERY 1.0 TAX LAW This Ruling applies in respect of the computation of annual allowances for plant and machinery under paragraph 15, Schedule 3, Income Tax Act 1967 and the Income Tax (Qualifying Plant Annual Allowances) Rules 2000 [P.U.(A) 52/2000]. This Ruling is effective
Personal Income Tax ("PIT") is a tax imposed on the incomes of individuals, communities and families. It is also charged on the incomes due to a trustee or an estate. The Personal Income Tax Act, 2004 is now amended by the Personal Income Tax (Amendment) Act, 2011.
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