Regulation 2

Despite section 43 but subject to section 43ZH(7) of the Act, tax is payable at the rate of 10% on the income derived by an approved international growth company from carrying on all of its qualifying activities in a basis period, or part of a basis period, that falls within its approval period, which in total exceeds the base amount mentioned in section 43ZH(6) of the Act.

Paragraph (1) does not apply to income from any of the activities mentioned in paragraph (1) that is carried on on a date that falls outside of that activity’s concessionary period.