29. Amendment of First Schedule

The Petroleum (Income Tax) Act 1967 is amended in paragraph 3a of the First Schedule by substituting for subparagraph (4) the following subparagraph:

“(4)  Any amount deducted under subparagraphs (1) and (2) shall be disregarded for the purpose of ascertaining the adjusted income of the first-mentioned chargeable person.”.

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Finance