S.L. 123.82 Art. 12Reversal of tax credit.

If a company avails itself of a tax credit under rule 11(2) in respect of expenditure that is subsequently deemed to have never constituted allowable R&D expenditure for the purpose of that rule in the circumstances mentioned in rule 10(3), an amount equal to that credit shall be deemed to be tax due by the company, in addition to any other tax liability, for the year of assessment that immediately follows the year in which those circumstances subsist, and the provisions of the Act shall apply accordingly.