Section 50G: Interpretation

50G. Interpretation In this Sub-part— “bank”— (a) has the same meaning as in the Banking Act; but (b) does not include the Development Bank of Mauritius Ltd; “book profit” means the profit computed in accordance with International Financial Reporting Standards; “levy”— (a) means the special levy referred to in section 50H; and (b) includes any penalty and interest imposed under this Act; I5 – 39 [Issue 7] Income Tax Act “net interest income” means interest income less interest expense; “operating income” means the sum of net interest income and other income before deducting non-interest expense. [S. 50G inserted by s. 17 (k) of Act 17 of 2007 w.e.f. 1 July 2007.]