Section 97P

Subject to section 97Q(6) where any statement issued under section 97O has become final and conclusive, the amount of the qualifying income shown by the statement shall not form part of the statutory income of the overseas enterprise for any year of assessment and shall be exempt from tax.

The Comptroller may, in his discretion and before such a statement has become final and conclusive, declare that a specified part of the amount of such income is not in dispute and such an undisputed amount of income is exempt from tax, pending such a statement becoming final and conclusive.