S.L. 325.6 Art. 43Profits taxed at reduced rates.

(1) With effect from year of assessment 2004 the profits which shall be taxed at the reduced rates of tax in accordance with the provisions of regulation 4 or 6 shall not, in any relevant year of assessment, exceed the amount produced by multiplying the number of employees by:

(a) €58,234.33 or such higher amount as may result from the adjustments referred to in sub-regulations (2) and (3), where the profits are taxed at the rate of 5%;

(b) €65,222.46 or such higher amount as may result from the adjustments referred to in sub-regulations (2) and (3), where the profits are taxed at 10% or 15%.

(2) The amounts of €58,234.33 and €65,222.46 referred to in sub-regulation (1) are stated at 2002 prices and these amounts shall in respect of year of assessment 2004 be increased by a percentage equal to the percentage increase in the inflation index, established in terms of article 13 of the Housing (Decontrol) Ordinance, during