Economic Expansion Incentives (Relief from Income Tax) Act 1967 · 2020 Revised Edition · Part 2 · Pioneer Industries
13. Exemption from income tax
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Where any statement issued under section 12 has become final and conclusive, the amount of the income shown by the statement does not form part of the statutory income of the pioneer enterprise for any year of assessment and is exempt from tax.
pioneer enterprise
“pioneer enterprise” means any company which has been approved by the Minister under section 5 for a pioneer product and to which a pioneer certificate is issued under that section;
The Comptroller may, in his or her discretion and before the statement mentioned in subsection (1) 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.
Comptroller
“Comptroller” means the Comptroller of Income Tax appointed under the Income Tax Act 1947;