35. Amendment of section 203 of the principal enactment

Section 203 of the principal enactment is hereby amended by the addition immediately after subsection (5) of that section, of the following new subsection: -

“(6) Where a concessionary tax rate is applicable to the whole or any part of the profits and income of a person in terms of the provisions of the Inland Revenue

Act, No. 10 of 2006 for any period as specified in the relevant provisions of such Act and the period so specified has not expired as at March 31, 2018, such concessionary tax rate shall continue to apply until the expiration of the period so specified:

Provided however, any such concessionary tax rate shall not be applicable after March 31, 2025.”.