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Income Tax Act (Cap. 123) Fringe Benefits (Amendment) Rules, 2006 (L.N. 76 Of 2006 )

INCOME TAX ACT (CAP. 123)
Fringe Benefits (Amendment) Rules, 2006
IN exercise of the powers conferred by articles 4(1)(b), 5(3)(c) and 96 of the Income Tax Act, the Prime Minister and Minister of Finance has made the following rules>–

Citation and commencement.

L.N. 125 of 2001

.

Amends rule 26 of the principal rules.

1. (1) The title of these rules is the Fringe Benefits (Amendment) Rules, 2006 and they shall be read and construed as one with the Fringe Benefits Rules, 2001, hereinafter referred to as “the principal rules”.
(2) These rules shall be deemed to have come into force on the 1st January, 2006.
2. For paragraph (i) of the proviso to rule 26(2)(c) of the principal rules, there shall be substituted the following>–
“(i) the benchmark rate of interest on a loan granted by a bank set up or licensed under Maltese law or by a financial institution authorised to lend money to the general public under Maltese law to an employee of such bank or financial institution shall be 0.25 of a percentage point higher than the central intervention rate of the Central Bank of Malta as prevailing at the end of the previous calendar year<”.

Ippubblikat mid-Dipartiment ta’ l-Informazzjoni (doi.gov.mt) — Valletta — Published by the Department of Information (doi.gov.mt) — Valletta

Mitbug[ fl-Istamperija tal-Gvern — Printed at the Government Printing Press

Prezz 4ç – Price 4c