SCHEDULES
SCHEDULE 4Supplemental taxation provisions for exempt activities
Accounting periods of companies carrying on exempt activities
2
(1)
An accounting period of the NDA or of an NDA company ends (if it would not otherwise do so)—
(a)
where it begins to carry on exempt activities, immediately before it begins to carry them on; and
(b)
where it ceases to carry on such activities, immediately after it so ceases.
(2)
An accounting period of a company which—
(a)
becomes an NDA company, and
(b)
is carrying on exempt activities immediately after becoming such a company,
ends (if it would not otherwise do so) when it becomes an NDA company.
(3)
An accounting period of a company which—
(a)
ceases to be an NDA company, and
(b)
is carrying on exempt activities immediately before ceasing to be such a company,
ends (if it would not otherwise do so) when it ceases to be an NDA company.