S.L. 325.6 Art. 32Investment credits.

(1) A company which has been determined by the

Corporation as having satisfied the conditions set out in regulation

31(1) and in this regulation shall be entitled to an investment credit which shall be equal to a percentage of the expenditure incurred by such company on qualifying expenditure on or after the 1st January 1995 up to 31st December 2006 and for this purpose the qualifying expenditure incurred up to 31st December 2001 shall be multiplied by 1.07n (1.07 to the power of "n") where "n" is a number arrived at by deducting from 2002 the year in which the expenditure was incurred:

Provided that the qualifying expenditure shall be that which is incurred under a programme approved by the company by the 31st December 2002 and notified to the Corporation by such date as it shall determine.

(2) The percentage referred to in sub-regulation (1) shall be:

(a) 75%, where the company was entitled to any of the benefits provided by articles 4, 5, or 5A of the Act or by articles 18 or 20 of the Malta Freeports Act on or before the 31st December 1999;

(b) 50%, where the company became entitled to any of the benefits provided by articles 4, 5 or 5A of the Act or by articles 18 or 20 of the Malta Freeports Act on or after the 1st January 2000.