Finance Act 2007 · s 23

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23.
Amendment of section 110
Section 110 of the principal Act is amended—
(a)	 by substituting for subsection (1) the following subsection:

“(1)  Any tax which is deducted from any interest or royalty under section 109 or from any payment for services, technical advice, assistance, or rental or other income under section 109b (including any amount recovered by the Director General pursuant to subsection 109(2) or 109b(2) but excluding any increase thereof) shall, when the interest, royalty, or payment for services, technical advice, assistance, or rental or other income is gross income of a person from a source of his for the basis period for a year of assessment, be set off against the tax charged on his chargeable income, if any, for that year.”;
(b)	 by deleting subsection (1a);
(c)	 in subsection (2)—
(i)	 other than in subparagraph (b)(ii), by deleting the word “dividend,”; and
(ii)	 in subparagraph (b)(ii), by deleting the words “a dividend,”;
(d)	 in subsections (4), (5) and (7), by deleting the word
“dividend,” wherever appearing; and
(e)	 by deleting subsection (13).

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s 23Amendment of section 110

Section 110 of the principal Act is amended—

(a)

by substituting for subsection (1) the following subsection:

(b)

by deleting subsection (1a);

(c)

in subsection (2)—

(i)

other than in subparagraph (b)(ii), by deleting the word “dividend,”; and

(ii)

in subparagraph (b)(ii), by deleting the words “a dividend,”;

(d)

in subsections (4), (5) and (7), by deleting the word

“dividend,” wherever appearing; and

(e)

by deleting subsection (13).