S.L. 372.18 Art. 8New taxpayers.

(1) The P.T. benchmark with respect to provisional tax payable on account of the first year of assessment of a provisional tax payer who is not an individual is nil.

(2) The P.T. benchmark with respect to provisional tax payable on account of the second year of assessment of a provisional tax payer who is not an individual shall be determined in the manner specified in rule 6 except that:

(a) the reference to the benchmark year of assessment shall be construed as a reference to that provisional tax payer’s first year of assessment; and

(b) the references to a self assessment shall be construed as references to a computation made by that provisional tax payer on the basis of his records in the same manner as a self assessment.