Section 48: (a) Subject to sub-item (b),
This section is inserted by Act No 13 of 2019, section 26.
consolidated text (as at 2017, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
48. (a) Subject to sub-item (b),
income derived by a person
from the operation of a Peerto-Peer Lending platform,
operated under a licence
issued by the Financial
Services Commission under
the Financial Services Act,
provided that –
(i) the person has started
its operations prior to
31 December 2020;
(ii) the income is derived
from the activities
covered under that
licence; and
(iii) the person satisfies
the conditions relating
to the substance of its
activities, as specified
by the Financial
Services Commission
established under the
Financial Services Act.
Acts 2019 341
(b) The exemption under this
item shall be for a period of
5 succeeding income years
as from the income year in
which the person started its
operations.
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Questions this section answers
- Is income from operating a Peer-to-Peer Lending platform tax exempt, and for how long?