Finance (Miscellaneous Provisions) Act, 1956

Industrial building allowances in relation to corporation profits tax.

20.—Where this Part of this Act provides for an industrial building allowance to be made to a company for the purposes of income tax, in respect of any expenditure, the amount of the allowance shall be deducted in computing the profits of that company for the purposes of corporation profits tax for the accounting period in which the expenditure is incurred.